gold up after fed minutes release
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 up after Fed minutes release

Arab Today, arab today

Arab Today, arab today Gold up after Fed minutes release

Gold futures
Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as traders digested the minutes from the Federal Open Market Committee (FOMC) meeting, released after the market's close on Wednesday.

The most active gold contract for June delivery rose 13.7 U.S. dollars, or 1.12 percent, to settle at 1,237.50 dollars per ounce.

Gold settled higher Thursday after the US Federal Reserve released the minutes from their latest March FOMC meeting.

The minutes indicated that the Fed would continue to be cautious with the timing of an interest rate hike: signaling that an April rate hike would be highly unlikely.

According to the CMEGroup's Fedwatch tool, the current implied probability of a hike is at 3 percent at the April 2016 meeting, and 14 percent at the June 2016 meeting, both lower than one day before.

Analysts believed the goal of the Fed is to soak up some of the banks' 2.5 trillion U.S. dollars of excess reserves as the U.S. economy begins to recover. Banks become more willing to take risks in a bullish economy, and as a result could potentially release some of their excessive reserves, flooding the economy with cash, causing inflation.

The release of these minutes put pressure on U.S. equities, which in turn gave support to gold. The FTSE 100 Index, the British benchmark stock market gauge, and other major European stocks also fell Wednesday.

Analysts noted that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven, while the opposite is true when U.S. equities post gains.

On the economic front, in the week ending April 2, the advance figure for seasonally adjusted initial jobless claims decreased 9,000 from the previous week's unrevised level to a slightly lower-than-expected 267,000, the U.S. Labor Department reported Thursday.

Silver for May delivery rose 10.40 cents, or 0.69 percent, to close at 15.158 dollars per ounce. Platinum for July delivery added 10.00 dollars, or 1.06 percent, to close at 954.70 dollars per ounce.

 

arabstoday
arabstoday

GMT 02:28 2016 Saturday ,01 October

Gold down on stronger US equities

GMT 14:27 2016 Saturday ,10 September

Gold down on Fed comments, stronger dollar

GMT 08:14 2016 Friday ,02 September

Gold up on weaker US data

GMT 02:01 2016 Saturday ,20 August

Gold down on stronger US dollar

GMT 02:52 2016 Wednesday ,17 August

Gold up on mixed US data, weaker dollar
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 up after fed minutes release gold up after fed minutes release

 



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 up after fed minutes release gold up after fed minutes release

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
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