Arab Today, arab today gold up ahead of fed meeting
Last Updated : GMT 18:35:19
Arab Today, arab today
Arab Today, arab today

Gold up ahead of Fed meeting

Arab Today, arab today

Arab Today, arab today Gold up ahead of Fed meeting

Gold
Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday ahead of the U.S. Federal Reserve's April Federal Open Market Committee (FOMC) meeting.

The most active gold contract for June delivery rose 10.2 U.S. dollars, or 0.83 percent, to settle at 1,240.20 dollars per ounce.

Traders are hedging their bets as the U.S. central bank prepared to enter its scheduled April FOMC meeting. Analysts believe that it is unlikely that the Fed will raise rates during this meeting, but believe that the Fed will provide more hints to investors on the timing of a rate hike. After March's FOMC meeting, traders believe that the Fed may raise rates from 0.50 to 0.75 during the July FOMC meeting. According to the CMEGroup' s Fedwatch tool, the current implied probability of a hike from 0.50 to 0.75 is at 23 percent at the June 2016 meeting, and 37 percent at the July 2016 meeting.

Gold was given further support as the U.S. Dollar Index fell by 0.32 percent to 94.73 as of 17:45 GMT. The index is a measure of the dollar against a basket of major currencies. Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors.

The precious metal was given additional support as a report released by the U.S. Department of Commerce showed new home sales falling by 1,000 to a 511,000 level during the month of March, which was worse-than-expected. However, analysts note that there was a 7,000 upward revision to 519,000 for the month of February, which analysts note was far better-than-expected, and may have tempered the bad news from March.

Traders are expecting the durable goods orders report to be released on Tuesday, the international trade in goods and FOMC meeting announcement on Wednesday, gross domestic product report on Thursday, and personal income and outlays on Friday.

Silver for May delivery added 10.9 cents, or 0.64 percent, to close at 17.009 dollars per ounce. Platinum for July delivery rose 7.3 dollars, or 0.72 percent, to close at 1,018.50 dollars per ounce.
Source: XINHUA

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*

Arab Today, arab today gold up ahead of fed meeting Arab Today, arab today gold up ahead of fed meeting

 



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 up ahead of fed meeting Arab Today, arab today gold up ahead of fed meeting

 



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 Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel

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