40806
Gold Above $1,300
World Economy

Gold Above $1,300

After three years of being scorned, gold’s making a powerful comeback. Prices have pushed above $1,300 an ounce on speculation that the US central bank will be slow to tighten policy further, bolstering the metal’s appeal as the dollar sagged. Bullion for immediate delivery traded at $1,290.28 an ounce in Singapore from $1,291.55 on Monday, when it rose to $1,303.82, according to Bloomberg generic pricing. It’s gained 22% this year, rising to the highest since January 2015, as a gauge of the dollar lost 6.3%. Investors have piled back into bullion in 2016 after prices sank for three straight years as risks to the global economy prompted the Federal Reserve to signal it will take a slower approach to rate increases. While the metal’s appeal has also been boosted by the spread of negative interest rates in Europe and Japan, gold’s latest push higher came after the Bank of Japan refrained from adding stimulus last week, which hurt the dollar. The spike above $1,300 on Monday came as many financial markets in Asia and Europe were closed.

 

Short URL : http://goo.gl/cYBWbF
  1. http://goo.gl/kgYeV3
  • http://goo.gl/kzHBPL
  • http://goo.gl/ABT1Vf
  • http://goo.gl/wVukXv
  • http://goo.gl/O7ZsCh

You can also read ...

Members discuss policies, regulation and flexibility to  help improve infrastructure.
Experts from APEC member economies spoke about the need to...
China Eyes SE Asia Investments
Companies from the world’s second-biggest economy are...
Romania leads the pack in economic growth. The picture shows tires being inspected during production  at the Continental plant in Timisoara.
Economies in most of the European Union’s eastern wing...
South Korea Business Groups’ Investment Rises 28%
South Korea’s top 30 conglomerates increased their investment...
Project awards in Bahrain plunged 84%.
Contracts awarded to build economic projects in the Persian...
Australia Economy Grows  With Strong Jobs Report
The strength of the Australian economy has been impressive of...
Infosys is Asia’s No.2 software services developer.
Infosys Ltd. approved a 130 billion rupees ($2 billion) share...
Qatar Tells Banks to Seek Overseas Funding
Qatar is telling its banks to tap international investors to...

Trending

Googleplus