Gold traded little changed on Monday as investors stayed on the sidelines ahead of a presentation by the US Federal Reserve chief later in the week that will be scoured for clues on the central bank’s attitude to another round of quantitative easing. Gold has been sensitive to the Fed’s stance on monetary stimulus this year and particularly to the impact of such a move on the dollar, which has consistently trumped bullion as the more-sought-for destination for safety amid the festering euro zone debt crisis that has sapped market liquidity. Spot gold was little changed at $1,589.75 an ounce by 0634 GMT, after rallying 1 percent on Friday. US gold futures contract for August lost 0.1 percent to $1,589.70. Technical analysis, however, suggested spot gold could retrace to $1,570 an ounce during the day, said Reuters market analyst Wang Tao. The correlation between the dollar and gold stood at -0.68, steady from Friday and the strongest inverse correlation in nearly three months. A reading of -1 suggests a perfect inverse correlation in which one asset rises and the other drops. From khaleejtimes
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor