Arab Today, arab today gold up after fivesession fall
Last Updated : GMT 12:41:09
Arab Today, arab today
Arab Today, arab today

Gold up after five-session fall

Arab Today, arab today

Arab Today, arab today Gold up after five-session fall

Gold
Chicago - XINHUA

 Gold futures on the COMEX division of the New York Mercantile Exchange halted a five session retreat on Friday as U.S. stocks were little changed and Ukraine tensions flared up again.
The most active gold contract for December delivery rose 4.8 U. S. dollars, or 0.38 percent, to settle at 1280.2 dollars per ounce.
The rally came after December gold had lost over 3 percent since Aug. 15, as a string of strong U.S. economic data added fears about earlier-than-expected rate increases by the U.S. central bank.
Investors on Friday weighed careful commitments about U.S. monetary policy from Federal Reserve Chairwoman Janet Yellen, who spoke at an annual gathering of the world's central bankers in Jackson Hole, Wyoming. Her speech was deemed as neutral.
On the geopolitical front, Western countries deplored Russia's decision to send humanitarian consignment into Ukrainian territory without the escort of the International Committee of the Red Cross or consent of Ukrainian government.
December gold slipped 1.9 percent for the week, the largest decline since a 2.09 percent pullback for the week ending July 18.
Silver for September delivery lost 2.9 cents, or 0.15 percent, to close at 19.386 dollars per ounce. Platinum for October delivery fell 0.8 dollars, or 0.06 percent, to close at 1,418.5 dollars per ounce.

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