Arab Today, arab today gold steady on dim us economic outlook
Last Updated : GMT 08:41:57
Arab Today, arab today
Arab Today, arab today

Gold steady on dim US economic outlook

Arab Today, arab today

Arab Today, arab today Gold steady on dim US economic outlook

Singapore - Arabstoday

Spot gold was steady on Monday, as the dimmed outlook for the US economy and persistent worries about Eurozone nations\' debt problem supported sentiment. The weaker-than-expected payrolls data last Friday dampened hopes that the US economy would bounce quickly from a slowdown in the first half of the year, helping gold stage a 3.9-per cent weekly rise, its best week since November 2009. A spate of data from the US, including trade, retail sales, industrial production and consumer price index, is expected this week. \"If we see something that confirms further the weakness of US economy we may see gold benefit from that,\" said Darren Heathcote, head of trading at Investec Australia. Article continues below Spot gold rose to a 2-1/2-week high of $1,546.69, before easing to $1,544.74 an ounce by 0642 GMT. US gold edged up 0.3 per cent at $1,545.40. Technical analysis suggested that gold may rise towards $1,557.75 in the short term, said Reuters market analyst Wang Tao. Euro-priced gold rose to an all-time high of 1,090.49 euros an ounce earlier in the day, buoyed by safe-haven buying as Europe\'s debt crisis continued to unnerve investors. Gold rose to an all-time high of $1,575.79 on May 2. On the physical market, buyers have moved to the sidelines after prices advanced nearly $60 in the previous week while scrap sales trickled in, dealers said. Scrap-selling \"We\'ve seen some scrap selling but in small amount,\" said a Singapore-based dealer, adding that scrap sellers are eyeing $1,550 level to start selling in larger volume. \"We don\'t see much buying at current price level.\" Physical demand is low during summer months when India, the world\'s largest gold consumer, goes through the monsoon season during which farmers are busy sowing and gold sales slow. Rural areas account for about 70 per cent of India\'s annual gold consumption. Spot silver lost 0.4 per cent to $36.50 an ounce, off the one-month high of $36.82 reached last Friday. US silver was little changed at $36.54.

arabstoday
arabstoday

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
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*

Arab Today, arab today gold steady on dim us economic outlook Arab Today, arab today gold steady on dim us economic outlook

 



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 steady on dim us economic outlook Arab Today, arab today gold steady on dim us economic outlook

 



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 How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 05:41 2017 Tuesday ,23 May

Tadawul index stays almost flat

GMT 20:24 2017 Saturday ,20 May

US Stocks Close Higher

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
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