gold steady on dim us economic outlook
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
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

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 steady on dim us economic outlook gold steady on dim us economic outlook

 



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 steady on dim us economic outlook gold steady on dim us economic outlook

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
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

Maintained 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 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday