Arab Today, arab today gold plummets on bernanke\s remarks
Last Updated : GMT 10:39:43
Arab Today, arab today
Arab Today, arab today

Gold plummets on Bernanke\'s remarks

Arab Today, arab today

Arab Today, arab today Gold plummets on Bernanke\'s remarks

Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange plummeted to the lowest level since September 2010 Thursday on Federal Reserve Chairman Ben Bernanke\'s bond-purchase scale-back remarks. The most active gold contract for August delivery tumbled 87.8 dollars, or 6.39 percent, to settle at 1,286.2 dollars per ounce. The Federal Open Market Committee (FOMC) concluded its two-day policy meeting Wednesday afternoon, and Fed Chairman Bernanke told reporters after the meeting that the central bank could begin to scale back purchases of government bonds as early as this year if warranted by stronger economic data, leaving investors expecting that quantitative easing is coming to an end in the next year or so. Better-than-expected economic data further aggravated gold\'s tumble. The National Association of Realtors reported Thursday that U.S. existing-home sales rose 4.2 percent in May to a seasonally adjusted annual rate of 5.18 million, the highest level since November 2009; and the Labor Department said that though the initial jobless claims increased by 18,000 to a seasonally adjusted 354,000 in the week ended June 15, the figure still points to moderate improvement in the labor market in the coming months. With economic fundamentals looking a bit better, market may continue to witness drop of gold, with upward technical resistance between 1,300-1,325 dollars an ounce in the short term, market analysts hold. Silver for July delivery lost 1.8 dollars, or 8.32 percent, to close at 19.823 dollars per ounce. Platinum for July delivery dropped 60.1 dollars, or 4.22 percent, to close at 1,363.8 dollars per ounce.

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 plummets on bernanke\s remarks Arab Today, arab today gold plummets on bernanke\s remarks

 



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 plummets on bernanke\s remarks Arab Today, arab today gold plummets on bernanke\s remarks

 



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

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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