gold pauses after rebound spain in focus
Last Updated : GMT 11:50:41
Arab Today, arab today
Arab Today, arab today

Gold pauses after rebound; Spain in focus

Arab Today, arab today

Arab Today, arab today Gold pauses after rebound; Spain in focus

Dubai - Arabstoday

Gold traded little changed on Thursday, after bouncing from a key support level at US$1,530 an ounce in the previous session, as investors remained focused on Spain\'s struggle with its finances and frail banking sector. Bullion broke ranks with riskier assets in the previous session, after bargain hunters entered the market as prices failed to break the US$1,530 level for the third time this month. Gold\'s performance in the previous session could be partly attributed to safe haven flows that spilled out of Treasuries and currency markets, some traders said, but whether such flows would be sustained to push up bullion prices was questionable. \"The situation in Europe isn\'t likely to improve much, and may need additional stimulus measures, which we don\'t expect to see any time soon,\" said Hou Xinqiang, an analyst at Jinrui Futures in the southern Chinese city of Shenzhen. Gold bugs have pinned their hopes on further monetary easing by central banks to keep lending costs low, which would raise the inflation outlook and so benefit gold. Nervous investors piled into US Treasuries and other low-risk assets as Spanish and Italian government bond yields rose to dangerously high levels, even after the European Union offered Spain more time to cut its budget deficit and direct aid to recapitalise distressed banks.   Latest opinion polls in Greece brought little comfort to investors, as they showed parties for and against a bailout neck-to-neck or very close to each another. Spot gold lost more than 6 percent on the month to stand nearly flat at US$1,561.44 an ounce by 0319 GMT, stretching its losing streak to a fourth month and matching a similar run in late 1999 and early 2000, when it traded below US$300. US gold inched down 0.1 percent to US$1,561.40. The euro fell to a near two-year low against the dollar earlier in the day, while the dollar index struck its loftiest level since September 2010, pressuring commodities priced in the greenback. Investors will closely watch a string of important data, including US preliminary first-quarter gross domestic product due later in the day, a US employment report and China\'s official purchasing managers index due on Friday, to assess the state of the global economy. Contracts to purchase previously owned US homes unexpectedly fell in April to a four-month low, undermining some of the recent optimism that the housing sector was touching bottom. From / Arabian Business

arabstoday
arabstoday

GMT 11:50 2017 Tuesday ,21 November

European stocks shrug off Germany's political woes

GMT 03:59 2017 Tuesday ,21 November

Weekly inflation decreases by 0.88%

GMT 23:50 2017 Monday ,20 November

Bahrain Bourse daily trading performance

GMT 14:54 2017 Sunday ,19 November

Bahrain Bourse daily trading performance

GMT 03:16 2017 Saturday ,18 November

Asian markets head for positive end to volatile week

GMT 11:57 2017 Friday ,17 November

US stocks boosted by solid Wal-Mart, Cisco earnings

GMT 06:51 2017 Friday ,17 November

Bahrain Bourse daily trading performance

GMT 03:57 2017 Thursday ,16 November

Stock markets retreat as oil slides
Arab Today, arab today
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*

gold pauses after rebound spain in focus gold pauses after rebound spain in focus

 



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*

gold pauses after rebound spain in focus gold pauses after rebound spain in focus

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
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 VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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