gold slips below 1600
Last Updated : GMT 15:30:33
Arab Today, arab today
Arab Today, arab today

gold slips below $1600

Arab Today, arab today

Arab Today, arab today gold slips below $1600

London - Arabstoday

Gold fell below $1,600 an ounce in Europe on Thursday after the Federal Reserve disappointed gold bulls by failing to announce more aggressive monetary stimulus, though positioning ahead of the event prevented a sharper fall. After a policy meeting ending Wednesday, the Fed said it would extend an existing bond programme aimed at bringing down long-term borrowing costs and stimulating growth, dubbed Operation Twist, but held fire on a new round of quantitative easing that some investors had hoped for. Gold had risen as high as $1,640.50 an ounce earlier this month on hopes that the Fed would unveil fresh quantitative easing measures to stimulate growth after a spate of disappointing economic data. Further monetary easing would maintain pressure on long-term interest rates, keeping the opportunity cost of holding gold at rock bottom as well as weighing on the dollar, which would stoke demand for the metal as an alternative store of value. Prices had retreated sharply ahead of the Fed statement as speculation grew that full QE was off the table, but more light selling was seen on Wednesday. Spot gold was down 0.4 percent at $1,599.19 an ounce at 1018 GMT, while U.S. gold futures for August delivery were down $15.50 an ounce at $1,600.30. On the wider markets, European shares traded lower as investors cashed in on a four-day rally after the Fed stopped short of announcing more aggressive monetary stimulus and China and Germany unveiled another batch of weak economic data. The dollar rose versus the euro, while a retreat in Spanish government bond yields after a debt auction and in safe-haven German Bunds pointed to softer risk aversion. However, concerns over the economic outlook at a global level remained elevated. Solid support From a technical perspective, analysts who study past price moves for clues on the future direction of trade see solid support for prices around $1,580/1,560. Further consolidation around current levels is expected after the metal avoided too sharp a drop on Wednesday. Physical gold traders in India, the world’s biggest consumer of the yellow metal, kept to the sidelines despite its price fall, seeking a bigger retreat in spot prices. The rupee’s fall to a record low against the dollar kept local prices high. Among other precious metals, silver was down 0.5 percent at $27.92 an ounce. The gold/silver ratio, which measures the number of silver ounces needed to buy an ounce of gold, rose above 57 on Thursday, moving back towards the year’s high, as the grey metal underperformed. Spot platinum was up 0.3 percent at $1,455.25 an ounce and spot palladium was down 0.2 percent at $613.50 an ounce. Monthly Swiss imports of raw and powdered platinum from South Africa, source of nearly four out of five ounces of world supply of the white metal, fell to their lowest in more than two years in May, Swiss customs data showed on Thursday.

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 slips below 1600 gold slips below 1600

 



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 slips below 1600 gold slips below 1600

 



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 00:54 2017 Monday ,20 November

Mideast in danger as London explores

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