Gold Slips Further
Gold Slips Further

Gold Slips Further

Gold Slips Further

Gold fell in choppy trading on Friday as the dollar rose in the wake of US non-farm payrolls data for December, prompting traders to cash in gains from the metal’s rally to 3-1/2 month highs this week, Reuters reported. Spot gold was down 0.5% at $1,316.03 an ounce. The metal remains on track for a fourth straight weekly gain, however, for the first time since April. It has risen nearly 1% in the first trading week of the year, having climbed by 13% in 2017. That has left gold looking overstretched, ABN Amro analyst Georgette Boele said. “I think when the rest of the market returns, gold prices will be lower and the US dollar will recover.” Elsewhere physical gold demand across Asia remained subdued this week as prices rallied, keeping retail buyers away from the market. In top consumer China, premiums declined to $6-$7 an ounce from around $10 last week. Among other precious metals, palladium was down 0.5% at $1,090.45, also retreating after hitting a record high of $1,105.70 on Thursday.


Short URL : https://goo.gl/pYAdGF
  1. https://goo.gl/YQnPkW
  • https://goo.gl/QsBMkW
  • https://goo.gl/o6KXHv
  • https://goo.gl/qkgEvV
  • https://goo.gl/94pTM2

You can also read ...

The S&P Mumbai Stock Index Sensex shed 73.88 points or 0.21% and closed at 35,548.26 while the Nifty50 index dropped by  17.85 points or 0.17% and settled at 10,799.85.
It is expected that the latest installment of concerns over...
Markets in Argentina, Brazil and Turkey took  the biggest hits from the fed rate hike.
Higher US rates are rattling many emerging markets in much the...
New Zealand Economy Facing Headwinds
New Zealand’s economic growth is expected to have slowed...
JPMorgan argues the record levels of debt in the US are a clear late-cycle indicator—and sees tough times ahead, at least in credit markets.
It seems like every time Joseph Harvey opens the Wall Street...
Copper Slips to 2-Week Low
Copper eased for a third session on Monday on fears trade...
Without users, it would simply be a worthless token.
Cryptocurrencies are not scalable and are more likely to...
Egyptian Lawmakers Decry Sisi Gov’t Economic Reforms
A group of Egyptian lawmakers on Sunday criticized recent...
Turkey Jobless Rate Falls to 10.1%
Turkey’s unemployment rate stood at 10.1% in March, falling 1....

Add new comment

Read our comment policy before posting your viewpoints