Arab Today, arab today gold may retreat as rebounding equities
Last Updated : GMT 06:15:14
Arab Today, arab today
Arab Today, arab today

Gold may retreat as rebounding equities

Arab Today, arab today

Arab Today, arab today Gold may retreat as rebounding equities

Washington - Arabstoday

Gold may fall in New York as higher equities and a strengthening dollar curbed demand for the metal as an alternative asset.The dollar was little changed after this week climbing to the highest level since February against six major currencies. European stocks rose for a second day amid speculation China may still support the region even after Premier Wen Jiabao said indebted countries must not rely on bailouts. Gold, which reached a record $1,923.70 an ounce on Sept. 6, yesterday fell below $1,800 as some investors sold the metal to cover losses in equity markets.“Most of the move in gold has been to do with risk aversion and the recent move has been to do with the dollar,” Carole Ferguson, an analyst at Fairfax IS in London, said today by phone. Still, “we don’t know how sustained this rebound will be” in equities, and lower stocks in the long run will support gold, she said.Gold for December delivery fell $7.80, or 0.4 percent, to $1,822.30 an ounce by 8:11 a.m. on the Comex in New York. Immediate-delivery gold was 0.8 percent lower at $1,818.93 in London.Bullion is in the 11th year of a bull market, the longest winning streak since at least 1920 in London, as investors seek to diversify away from equities and some currencies. The metal is up 28 percent this year, outperforming global stocks, commodities and Treasuries.Moody’s Investors Service lowered credit ratings for Societe Generale SA and Credit Agricole SA, two of France’s three largest banks by assets. French lenders top the list of Greek creditors with $56.7 billion in exposure to private and public debt, according to a June report by the Bank for International Settlements.Greek Prime Minister George Papandreou holds a conference call with German Chancellor Angela Merkel and French President Nicolas Sarkozy today to discuss developments in his nation and the euro area. Merkel has said she won’t let Greece fall into “uncontrolled insolvency” because the risk of contagion for the other euro-zone countries “is very big.”“There’s going to be a lot of volatility,” Richard O’Brien, chief executive officer of Newmont Mining Corp., the largest U.S. gold producer, said in a Bloomberg Television interview. “That’s the key point, up but volatile. I don’t think there’s a lot of downside. Gold’s going to trade more and more like a currency instead of like a commodity.”Silver for December delivery in New York fell 0.7 percent to $40.89 an ounce. Platinum for October delivery was up 0.2 percent at $1,817.20 an ounce. Palladium for December delivery declined 0.9 percent to $722.05 an ounce.Platinum is trading close to parity with gold. An ounce of platinum bought 1.18 ounces of gold on average this year in London, down from 1.32 ounces in 2010. The ratio last month fell to the lowest level in almost two decades.

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 may retreat as rebounding equities Arab Today, arab today gold may retreat as rebounding equities

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 05:43 2017 Sunday ,26 February

Al-Gergawi quits Dubai Holding to focus on govt role

GMT 05:14 2017 Sunday ,26 February

Oil prices to average $50-$70 through 2022

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 05:41 2017 Monday ,27 February

Phone firms turn to AI at top mobile fair

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
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