Arab Today, arab today gold heads for biggest monthly gain in 22 months
Last Updated : GMT 19:10:18
Arab Today, arab today
Arab Today, arab today

Gold heads for biggest monthly gain in 22 months

Arab Today, arab today

Arab Today, arab today Gold heads for biggest monthly gain in 22 months

New York - Arabstoday

Gold was little changed in New York, heading for biggest monthly gain in 22 months, as investors weighed a rally in global equities with the prospect of the Federal Reserve taking more action to spur the economy. The Dow Jones Industrial Average rose as much as 1.3 per cent to the highest in almost four weeks, erasing its 2011 loss. Gold is still headed for the biggest monthly gain since November 2009 after touching an all-time high of $1,917.90 an ounce on August 23. Minutes released Tuesday from the Fed\'s meeting last month showed some policymakers favoured more aggressive action to stimulate growth. \"This is a shallow correction in gold,\" Adam Klopfenstein, a strategist at MF Global in Chicago, said in a telephone interview. \"Equities are reasserting themselves, but in the backdrop, traders know the Fed is going to do something to stimulate the economy, so sell-offs in gold are being bought.\" Gold futures for December delivery rose 70 cents to $1,830.50 an ounce on the Comex. A close at that price would leave the most-active contract up 12 per cent last month and 29 per cent this year. The Standard & Poor\'s 500 Index is still headed for the fourth-straight monthly decline. Gold prices surged in August on mounting speculation that the US economic recovery will falter and as the Federal Reserve pledged to keep borrowing costs at a record low until mid-2013. In August, the metal also reached records in euros and British pounds amid Europe\'s sovereign-debt crisis.

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 heads for biggest monthly gain in 22 months Arab Today, arab today gold heads for biggest monthly gain in 22 months

 



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 heads for biggest monthly gain in 22 months Arab Today, arab today gold heads for biggest monthly gain in 22 months

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
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 Mai Al-Jeddawi presents décor ideas for Ramadan
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