Arab Today, arab today fed stance rising dollar hurt gold
Last Updated : GMT 14:41:47
Arab Today, arab today
Arab Today, arab today

Fed stance, rising dollar hurt gold

Arab Today, arab today

Arab Today, arab today Fed stance, rising dollar hurt gold

New York - Arabstoday

Gold declined from a seven-week high in New York as the US central bank damped speculation it would expand stimulus measures and the dollar strengthened, curbing demand for the metal as an alternative investment. The dollar gained versus six major currencies after the Federal Reserve\'s policy meeting on Wednesday and on prospects Greek Prime Minister George Papandreou will face difficulty in getting parliamentary approval next week for a package of budget cuts and asset sales. Gold, down for the first day in eight, climbed within 1.2 per cent of a record set last month. \"People are now expecting no QE3,\" and that\'s one of the factors pressuring gold, said Bernard Sin, the head of currency and metal trading at MKS Finance, a bullion refiner in Geneva. \"The market is reacting a bit to the dollar, and that\'s why we\'re seeing a bit of profit-taking. In the longer term, people will move back into gold.\" Gold for August delivery declined $13.90, or 0.9 per cent, to $1,539.50 an ounce in early trade on the Comex in New York. The metal reached $1,559.30 yesterday, the highest price since May 2. Immediate-delivery gold was 0.6 per cent lower at $1,539.02 in London. Article continues below Bullion fell to $1,541.50 an ounce in the morning \"fixing\" in London, used by some mining companies to sell output, from $1,552.50 at Wednesday\'s afternoon fixing. Policymakers decided to keep the Fed\'s balance sheet at a record to spur the economy after completing $600 billion (Dh2.2 trillion) of bond purchases this month in a second round of quantitative easing, or so-called QE2. The US economy is recovering at a \"moderate pace, though somewhat more slowly\" than the central bank had expected, Fed Chairman Ben S. Bernanke said on Wednesday. European finance chiefs will decide on July 3 whether Greece has met conditions for its next aid payment. Antonis Samaras, leader of the opposition in the Greek parliament, said his party will vote against the government\'s new austerity measures, contrary to European Union calls for unity, the Financial Times reported, citing an interview. Gold is up 8.3 per cent in 2011 after climbing the past 10 years, the longest run of gains in at least nine decades in London. Europe\'s debt crisis helped bullion futures reach a record $1,577.40 on May 2. The metal climbed to an all-time high of £965.84 Wednesday. \"Inflationary expectations and sovereign debt concerns are expected to continue to drive prices,\" John Meyer, an analyst at Fairfax IS in London, said in a report. Marc Faber, publisher of the Gloom, Boom & Doom report, still favours gold and silver and will keep accumulating gold, even though prices of the metals may decline in the next three months, he said. Silver for September delivery fell 1.5 per cent to $36.195 an ounce in New York. Palladium for September delivery declined 2.8 per cent to $749.25 an ounce. Platinum for October delivery was down 1.9 per cent at $1,722.20.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fed stance rising dollar hurt gold Arab Today, arab today fed stance rising dollar hurt gold

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fed stance rising dollar hurt gold Arab Today, arab today fed stance rising dollar hurt gold

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Lufthansa chief eyes up to 78

GMT 11:29 2017 Thursday ,21 September

Lufthansa chief eyes up to 78
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Rouhani at UN defends Iran nuclear deal

GMT 09:41 2017 Thursday ,21 September

Rouhani at UN defends Iran nuclear deal
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Actress Ream Hhagag prepares for a new film

GMT 09:40 2017 Tuesday ,19 September

Actress Ream Hhagag prepares for a new film
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday