gold gains on steady europe
Last Updated : GMT 08:21:11
Arab Today, arab today
Arab Today, arab today

Gold gains on steady Europe

Arab Today, arab today

Arab Today, arab today Gold gains on steady Europe

Athens - Arabstoday

Gold inched up on Monday to extend last week\'s rise, tracking a steady euro after world leaders pledged to combat financial turmoil, although worries about Greece and the euro zone debt crisis continued to feed caution in the financial markets. A pledge by the world\'s leaders to keep Greece in the euro zone offered some relief to the euro, which rose to its highest level in nearly a week against the dollar, while the greenback slipped against a basket of currencies, lending support to dollar-priced commodities. But investors remained skittish as the summit for G8 leaders offered no specific prescription for debt-crippled Greece which is headed for fresh elections next month. \"We suspect that any early gains will eventually be rolled back, as the markets refocus their attention on the more pressing problems at hand, and ones that cannot be easily papered over by well-intentioned communiques,\" said Ed Meir, an analyst at INTL FCStone, in a research note.Spot gold edged up 0.3 percent to US$1,596.56 an ounce by 0326 GMT, after prices gained 0.8 percent last week. Cash gold rebounded swiftly in the past two sessions from a 2012 low below US$1,530 an ounce and tested US$1,600, which has proved to be a key resistance level. US gold inched up 0.3 percent to US$1,596.70. Prices have also found support from comments by Greece\'s leftist leader Alexis Tsipras that he would seek talks with European leaders on new terms to keep Greece in the euro zone if he was elected. A dip in net long positions in US gold in the week ended May 15 helped gold\'s rebound late last week, as newly bearish traders scramble to cover their short positions once prices reversed course from sharp falls earlier in the week. Traders increased their short positions in gold by 46 percent to 34,057 contracts during that week, the highest since September 2008. Long positions were cut to 112,676 contracts, the lowest since January 2009, the US Commodity Futures Trading Commission said. \"Those people who went short have to buy back at some time somewhere,\" said Yuichi Ikemizu, head of commodity trading, Japan, Standard Bank. Sentiment in gold-backed exchange-traded funds warmed a bit. Holdings of key gold ETFs rebounded from a 3-1/2-month low hit last Thursday to 69.884m ounces on May 18. The holdings struck an all-time high of 70.89m ounces in March. But Asia\'s physical gold market was quiet with prices rebounding, as traders moved back to the sidelines after buying on dips last week, dealers said.

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 gains on steady europe gold gains on steady europe

 



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 gains on steady europe gold gains on steady europe

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Japanese regulators raid Airbnb

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Saudi, Bahrain target Iran

GMT 00:48 2017 Monday ,20 November

Saudi, Bahrain target Iran
Arab Today, arab today Europe turns on Facebook, Google

GMT 02:26 2017 Monday ,20 November

Europe turns on Facebook, Google
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Mona Abdel Ghany increased artistic activities

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 02:28 2017 Saturday ,18 November

Anti-drug operation nets 4 tonnes

GMT 01:34 2017 Friday ,17 November

Banyan Tree Phuket Takes Festive Season

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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