Arab Today, arab today gold eases as dollar recovers lost ground
Last Updated : GMT 09:18:07
Arab Today, arab today
Arab Today, arab today

Gold eases as dollar recovers lost ground

Arab Today, arab today

Arab Today, arab today Gold eases as dollar recovers lost ground

London - Arabstoday

London Gold eased towards $1,670 (Dh6,132) an ounce Friday, pausing in its biggest one-week rally since late February, as the dollar recovered lost ground against the euro on concerns about Spain\'s financial health and after Chinese growth data missed forecasts. Spot gold was down 0.1 per cent at $1,672.80 an ounce at 1152 GMT, while US gold futures for June delivery fell $6.90 an ounce to $1,673.70. The metal was still on track to rise 2.5 per cent last week after a soft US jobs report last Friday stoked expectations for new quantitative easing measures. Ultra-loose US monetary policy was a key driver of record gold prices last year. However, a rebound in the dollar yesterday took the wind out of the precious metal\'s sails. \"There has been a steady trickle of positive new stories that seem to have picked gold\'s spirits up a bit and moved it into a higher range, but it is still a relatively muted performance,\" Sharps Pixley chief executive Ross Norman said. \"There has been steady US dollar strength, and I think that will be an ongoing story throughout the year,\" he said. \"Investment demand remains pretty robust, but the strength of the US dollar in an election year is likely to continue to be a drag on runaway gold prices.\" Gold is expected to remain closely tied to the dollar. A stronger dollar tends to weigh on gold, as it makes dollar-priced commodities more expensive for other currency holders, and curbs the metal\'s appeal as an alternative asset. \"Gold will in our view continue to trade alongside the broader market today and against the US currency, as attention turns to US CPI estimates this afternoon,\" VTB Capital in a note. Gold is on track to rise nearly 7 per cent this year but has struggled to gain momentum after a strong showing in January as expectations for a further round on monetary easing fluctuate. Swiss bank UBS said in a note that if gold reverts to the safe-haven trading pattern it followed for much of last year, light speculative positioning, a run of softer than expected US data and troubles in the Eurozone may represent the ingredients for a fresh rally. \"Options activity this week suggests something is brewing,\" UBS said. \"There has been a good deal of interest in upside options, particularly for $1,800 June calls, with gold\'s safe haven performance on Tuesday the likely catalyst.

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 eases as dollar recovers lost ground Arab Today, arab today gold eases as dollar recovers lost ground

 



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 eases as dollar recovers lost ground Arab Today, arab today gold eases as dollar recovers lost ground

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
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 Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Rogina happy for reactions to “The Flood”

GMT 09:30 2017 Friday ,20 October

Rogina happy for reactions to “The Flood”
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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