Arab Today, arab today gold rises as ecb cuts interest rates
Last Updated : GMT 12:28:21
Arab Today, arab today
Arab Today, arab today

Gold rises as ECB cuts interest rates

Arab Today, arab today

Arab Today, arab today Gold rises as ECB cuts interest rates

Gold rises
Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange registered the largest one-day gain since May 14 Thursday as the European Central Bank (ECB) cut interest rates and introduced a number of easing measures.
The most active gold contract for August delivery rose 9 U.S. dollars, or 0.72 percent, to settle at 1,253.3 dollars per ounce.
ECB President Mario Draghi said after a policy meeting that the ECB decided to cut its main lending rate from 0.25 percent to 0.15 percent, a new low, and cut the rate on bank deposits with the central bank overnight to negative 0.1 percent.
Draghi also announced more easing measures to encourage lending. After Draghi's announcement, the euro began to stumble against dollar, and gold rose as a result.
Market analysts believe that the ECB's easing measures are conducive to gold in the long term, because increases in supply of fiat currencies will raise the relative value of gold.
Other analysts, however, hold different views. Analysts with Societe Generale said Thursday that spot gold is likely to move below 1,200 dollars an ounce in 2015, below 1,000 dollars an ounce in 2016, and further go to an average of 825 dollars between 2017 and 2019 on prospect of U.S. rate hikes.
Silver for July delivery rose 29.1 cents, or 1.55 percent, to close at 19.083 dollars per ounce. Platinum for July delivery climbed 11.2 dollars, or 0.78 percent, to close at 1,445.1 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 rises as ecb cuts interest rates Arab Today, arab today gold rises as ecb cuts interest rates

 



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 rises as ecb cuts interest rates Arab Today, arab today gold rises as ecb cuts interest rates

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
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
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

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

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel 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