Arab Today, arab today gold edges up on dollar
Last Updated : GMT 19:23:16
Arab Today, arab today
Arab Today, arab today

Gold edges up on dollar

Arab Today, arab today

Arab Today, arab today Gold edges up on dollar

Dubai - Arabstoday

Gold prices edged higher on Wednesday after dropping nearly 1 percent in the previous session, as a slightly weaker dollar came to the aid of buyers, while sluggish physical demand and an improving US economic outlook capped gains. The latest US housing market data added to a string of numbers indicating steady recovery in the world\'s largest economy, diminishing hopes of further quantitative easing which had helped buoy gold earlier this year. The dollar edged down 0.3 percent against a basket of currencies. A cheaper greenback makes dollar-priced commodities, including gold, more attractive to buyers holding other currencies. Spot gold edged up 0.3 percent to US$1,655.14 an ounce by 0241 GMT. U.S. gold gained half a percent to US$1,655.40. Some investors have taken money out of gold after a recent equities rally, and turned to chase higher-yielding assets with indications of a stabilising global economy taking the shine off safe-haven assets such as gold and government bonds. \"Gold has seen some liquidation by funds after the hopes for QE3 (third round of quantitative easing) were dashed,\" said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. Gold found good support at the US$1,640 level in the previous session, but in the short-term prices could test US$1,620-US$1,630 level due to a generally stronger dollar and lack of support from the physical market, Fung added. The dollar index is up about 0.8 percent so far this month. Technical analysis suggested that spot gold would remain neutral in the range of US$1,634 and US$1,671, Reuters market analyst Wang Tao said. Dealers in Singapore also reported slow physical market activity after prices rebounded above US$1,650 an ounce. \"Buying is over and now clients are just waiting to take physical deliveries,\" said a Singapore-based trader, noting that Indonesia and Thailand were among the most active buyers. Investors are closely watching the US debt market, an indicator of appetite for the safe-haven asset. On Tuesday, US Treasury debt prices posted modest gains, though selling still pushed some yields to multi-month highs as traders focused on the idea that a stronger economy could mean quicker inflation and monetary policy tightening sooner than expected. High oil prices have helped underpin gold sentiment. But oil tumbled in the previous session after comments from Saudi Arabia on its willingness to meet any supply gap. SPDR Gold Trust, the world\'s largest gold-backed exchange-traded fund, said its holdings had slipped 0.23 percent to 1,290.247 tonnes by March 20, the first drop after staying unchanged for four straight sessions. Spot silver rebounded from a 2.3-percent slide in the previous session and was trading up 0.5 percent to US$32.26.

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 edges up on dollar Arab Today, arab today gold edges up on dollar

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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