Arab Today, arab today gold hovers near high
Last Updated : GMT 12:35:32
Arab Today, arab today
Arab Today, arab today

Gold hovers near high

Arab Today, arab today

Arab Today, arab today Gold hovers near high

London - Arabstoday

Gold held near $1,600 (Dh5,876) an ounce yesterday, supported near this week\'s record highs by caution ahead of a key Eurozone summit and as concerns persisted over talks to raise the US debt ceiling, a necessary move to avoid a default. However, it struggled to make fresh gains as appetite for risk improved after Germany and France reached a common position ahead of the summit, at which leaders will try to agree on a second bailout package for debt-laden Greece. Spot gold was flat at $1,599.29 an ounce. It has risen 12.8 per cent so far this year. \"The EU summit... and the deadlock in the US debt issue discussions are curbing the metal in narrow range,\" said Pradeep Unni, senior analyst at Richcomm Global Services. \"It\'s almost certain that Greece will be bailed out, and Germany and France have given their consent.\" Article continues below \"[If we have] a bailout proposal for Greece and... if a temporary solution is reached in United States, expect gold to spike down to the 1,559-1,555 zone.\" The metal hit a record $1,609.51 an ounce on Tuesday on fears the Eurozone debt crisis that has battered Greece would spread to larger economies like Spain and Italy, but later retreated as some cautious optimism emerged. Safe-haven German government bonds opened lower yesterday, while the premium investors demand to hold lower-rated Eurozone government bonds rather than Bunds fell. Agreement The euro firmed against the dollar after officials said Germany and France had reached a common position on a second bailout of Greece in their effort to prevent the country\'s debt crisis from spreading through Europe. The accord, details of which have not been released, will be presented to a crisis summit of all 17 leaders of the bloc in Brussels. The new bailout would supplement a €110 billion (Dh528 billion) rescue plan for Greece launched in May last year. It is expected to include fresh emergency loans to Athens from Eurozone governments and the International Monetary Fund, and possibly a range of other measures. \"With expectations for the meeting low, any positive outcome today would be gold-negative,\" said UBS analyst Edel Tully in a note. \"But unless EU leaders come up with a credible plan that addresses not only Greece but also the threat of contagion to Italy and Spain as well, any dip in gold will likely be short-lived.\" Meanwhile, President Barack Obama and top lawmakers face growing pressure yesterday to strike a deficit-reduction deal. They have struggled to break their impasse as an August 2 deadline looms for raising the government\'s $14.3 trillion debt ceiling. A failure to do so could render the world\'s biggest economy unable to pay its bills, potentially reducing the safe-haven appeal of US Treasuries and the dollar, and lifting gold. Silver Spot silver eased 0.9 per cent to $39.74 an ounce. The gold-silver ratio, used to measure the ounces of silver needed to buy one ounce of gold, held near 40, well below the average of 55 since the beginning of 2010 but above the April lows near 30 when silver rose close to $50. Demand for products like silver-backed exchange-traded funds remained choppy, with the largest, New York\'s iShares Silver Trust, recording its largest one-day outflow in a month on Wednesday, with its holdings falling 60.6 tonnes.

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 hovers near high Arab Today, arab today gold hovers near high

 



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 hovers near high Arab Today, arab today gold hovers near high

 



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 Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
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 Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

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 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

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