Arab Today, arab today gold dives after fed report
Last Updated : GMT 15:27:16
Arab Today, arab today
Arab Today, arab today

Gold dives after Fed report

Arab Today, arab today

Arab Today, arab today Gold dives after Fed report

Chicago - Arabstoday

Gold futures on the COMEX division of the New York Mercantile Exchange shot down Wednesday as traders reacted to the confirmation by the Federal Reserve Bank that the economy was getting better and further qantitative easing measures were unlikely. The most active gold contract for April delivery plummeted 51.3 dollars, or 3 percent, to settle at 1,642.9 dollars per ounce. Tuesday afternoon\'s statement from the Fed, which came 15 minutes after the gold market closed for that day, confirmed traders\'earlier suspicions regarding lack of upcoming quantitative easing policies. In Tuesday\'s release, the Fed noted recent positive signs in the U.S. economy and job market, while downplaying immediate concerns for inflation. While the Fed said they would continue to keep interest rates low, there was no mention of another round of quantitative easing. Seen as a safe haven in times of economic difficulties, gold dropped in response to the Fed statement of an improved economy, closing at the metal\'s lowest per ounce value since Jan. 13. Gold also saw pressure from a stronger dollar after the Fed statement, while the dollar rising against the yen in particular to close at one dollar for 83.81 yen, its highest level since last April. Silver, like gold, dropped significantly in trading Wednesday. Silver for May delivery dropped 1.4 U.S. dollars, or 4.17 percent, to settle at 32.18 dollars per ounce. Platinum for April delivery fell 26.5 dollars, or 1.56 percent, to close at 1,675.3 dollars per ounce. Despite the decline, platinum still retained a higher value than gold, reversing the trend seen since mid-2011 when gold traded at a higher value than platinum.

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 gold dives after fed report Arab Today, arab today gold dives after fed report

 



Arab Today, arab today

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 gold dives after fed report Arab Today, arab today gold dives after fed report

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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