Arab Today, arab today gold falls but near highest in seven weeks
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Gold falls but near highest in seven weeks

Arab Today, arab today

Arab Today, arab today Gold falls but near highest in seven weeks

London - Arabstoday

Gold headed for its steepest one-day fall in a month in early trade yesterday, under pressure from a retreat in investor risk appetite that undermined the euro, although the bullion price remained within sight of last week\'s seven-week highs. The euro fell back from six-week highs, and European shares came under pressure from a decline across the banking sector after Greece and its creditors failed to come up with an agreement on a debt swap ahead of the start of a key European summit. EU leaders, who were expected to sign off on a permanent rescue fund for the Eurozone later yesterday, are expected to agree on a balanced budget rule in national legislation, but Greece\'s unresolved problems cast a shadow on the discussions. Last week, the gold price staged its largest weekly rally in three months to reach a high of $1,739 (Dh6,382) an ounce after the Federal Reserve signalled it expected no change to near-zero US interest rates for nearly three years and data showed the US economy grew more slowly than expected in the final quarter of 2011. Article continues below Main story Spot gold was down 0.9 per cent at $1,721.95 an ounce at 1237GMT, its largest one-day fall since late December. The price rose by about 4.5 per cent last week and is still set for a 10 per cent gain in January, its strongest monthly rise since August\'s 12 per cent rally. \"Without a doubt, this morning the main story is the risk sell-off, whether we like it or not these days, on ... what concerns there are towards the euro and Eurozone,\" RBS analyst Nikos Kavalis said. \"At the moment, we think a correction is very possible for the [precious] sector overall, rather than for one of them. But, if this were to materialise, this would be a bull market correction rather than a change in trend and a change in sentiment,\" he said. Reflecting investors\' growing appetite for gold, data on Friday from the Commodity Futures Trading Commission showed speculators in US gold futures raised their holdings for a third week in a row, marking the longest stretch of increases in the net non-commercial position on Comex in six months.  

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 falls but near highest in seven weeks Arab Today, arab today gold falls but near highest in seven weeks

 



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 falls but near highest in seven weeks Arab Today, arab today gold falls but near highest in seven weeks

 



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
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
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