Arab Today, arab today gold rises after ecb rate cut
Last Updated : GMT 09:51:30
Arab Today, arab today
Arab Today, arab today

Gold rises after ECB rate cut

Arab Today, arab today

Arab Today, arab today Gold rises after ECB rate cut

London - Arabstoday

Gold rose after the European Central Bank (ECB) cut its interest rate for the first time in 10 months and President Mario Draghi said the central bank is technically ready for negative deposit rates. Lower interest rates favor gold as they encourage investors to put money into non-interest-bearing assets like the metal. “When Draghi today comes along and says that the central bank is getting ready for negative interest rates, meaning it has all the ammunitions in place, what this suggested is that the opportunity cost to hold gold will remain low,” VTB Capital analyst Andrey Kryuchenkov said. Gold rose to a session high of $ 1,473.40 an ounce after the rate decision and was at $ 1,470.86 by 1454 GMT, still up 1 percent. The metal had shed more than 1 percent in the previous session — its biggest daily drop since bullion’s historic decline in mid-April — to a low of $ 1,439.74, the weakest since April 25. US gold for June delivery rose 1.6 percent to $ 1,469.30 an ounce. The metal gained even as the dollar strengthened against the euro and other currencies after the ECB lowered its main rate by a quarter percentage point to 0.50 percent, and pledged as much liquidity as euro zone banks need well into next year. Physical market activity slowed after a recent surge in the purchase of gold bars, coins and nuggets across Asia sent premiums for gold bars to multi-year highs. Gold’s second-largest consumer China resumed trading after a three-day holiday, but demand seemed slower than a week ago, while the physical market in Hong Kong was also easier. Gold’s sell-off last month has widened a disconnect between funds that sold on dissatisfaction over bullion’s underperformance and individual investors who could not get enough physical gold coins and bars at bargain prices. In other precious metals, silver rose 1.7 percent to $23.96 an ounce. Platinum was up 1.3 percent to $ 1,489.99 an ounce. Palladium rose 0.7 percent to $ 690.22, having hit a two-week high of $ 700.72 on Tuesday. Source: ArabNews

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 rises after ecb rate cut Arab Today, arab today gold rises after ecb rate cut

 



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 rises after ecb rate cut Arab Today, arab today gold rises after ecb rate cut

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Russia and Iraq restore air travel

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel
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 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
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 Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 11:53 2017 Saturday ,16 September

Jolie effect helps Namibian tourism

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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