Gold futures on the COMEX division of the New York Mercantile Exchange rose Wednesday as the World Bank cut its global growth forecast.
The most active gold contract for August delivery rose 1.1 dollars, or 0.09 percent, to settle at 1,261.2 dollars per ounce.
The precious metal settled higher for the third day in a row as the World Bank cut the global growth forecast to 2.8 percent for the year. In January the bank projected a growth of 3.2 percent, based on a harsh winter in the U.S. and geopolitical tension in Ukraine.
Stock markets in Europe, Asia and the U.S. dropped following the cut to global growth forecast, boosting gold's safe-haven appeal.
Market analysts believe that the market is quiet because investors are turning their attention to FIFA World Cup in Brazil, which starts Thursday.
Silver for July delivery gained 0.4 cents, or 0.02 percent, to close at 19.172 dollars per ounce. Platinum for July delivery lost 1.1 dollars, or 0.07 percent, to close at 1,481.1 dollars per ounce.
GMT 11:02 2018 Tuesday ,11 December
ASE opens trading on lower noteGMT 15:40 2018 Monday ,10 December
Amman stock market closes trading at JD4.4 millionGMT 19:10 2018 Wednesday ,05 December
Index at Palestine stock market drops by less than one pointGMT 17:58 2018 Sunday ,25 November
Amman stock market wraps up trading at JD2.6 millionGMT 14:24 2018 Thursday ,22 November
Russia’s stock market demonstrates record-breaking figures in 2018GMT 11:45 2018 Tuesday ,20 November
Tokyo stocks close lower as tech issues weigh, Nissan tumblesGMT 15:08 2018 Monday ,19 November
Amman stock market wraps up trading at JD6.1 millionGMT 15:51 2018 Sunday ,18 November
U.S. stocks post weekly losses amid tech shares routMaintained 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 ©
Send your comments
Your comment as a visitor