gold prices rise after macron’s win
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Gold prices rise after Macron’s win

Arab Today, arab today

Arab Today, arab today Gold prices rise after Macron’s win

London - Arab Today

Gold prices rose on Monday on bargain-hunting after falling to a seven-week low earlier when safe-haven demand ebbed away following pro-EU candidate Emmanuel Macron’s victory in the French presidential election.
Spot gold rose 0.4 percent to $1,232.61 per ounce by 1211 GMT, after touching 1,224.86 earlier in the session, its lowest level since March 17. The precious metal, seen as a safe haven, fell 3.2 percent last week, its biggest percentage fall in 25 weeks as polls indicated a landslide for Macron.
US gold futures rose 0.5 percent to $1,233 an ounce. “The result of (the French) election was pretty well forecast ... Last week, we had some sizeable (long) liquidation in gold and physical demand remains pretty good right now ... I am not surprised to see gold supported around current levels,” ICBC Standard Bank analyst Tom Kendall said.
The removal of the political risk associated with Macron’s rival Marine Le Pen — who had vowed to take France out of the EU — leaves investors refocusing on the pace of monetary policy normalization in Europe and the US.
The European Central Bank (ECB) is expected to have more room to tighten policy as the euro zone’s economic recovery gathers pace.
In the US, data out Friday showed job growth rebounded sharply in April and the unemployment rate dropped to near a 10-year low, which is seen as reinforcing the case for a US interest rate hike next month. Higher rates dent demand for non-interest bearing gold. At the same time, a stronger dollar makes dollar-priced gold costlier for non-US investors.
“Expectation for a hike is there so it is about the tone the Federal Reserve (takes). I am mildly bearish for the remainder of this quarter, I would not be surprised to see (gold) test $1,200-$1,180,” Kendall said. Gold has fallen more than 5 percent since hitting a five-month high of $1,295.42 in mid-April.

Source: Arab News

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 prices rise after macron’s win gold prices rise after macron’s win

 



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 prices rise after macron’s win gold prices rise after macron’s win

 



GMT 13:49 2017 Thursday ,08 June

Boko Haram kills 11 in NE Nigeria attacks: police

GMT 09:08 2017 Monday ,11 September

Palestinian court grants bail to prominent activist

GMT 00:06 2018 Wednesday ,24 January

Emirates signs agreement for 36 additional A380s

GMT 09:59 2018 Wednesday ,10 January

Pakistan reiterates solidarity with Saudi Arabia

GMT 23:01 2016 Wednesday ,30 November

21 killed in artillery shelling of eastern Aleppo

GMT 09:22 2016 Monday ,10 October

US troops in Kuwait came under 'suicide' attack

GMT 21:14 2017 Tuesday ,21 February

Tatas will lead, not follow

GMT 11:24 2017 Wednesday ,15 February

ISIS kidnapped 16 civilians from Anbar

GMT 19:30 2018 Wednesday ,31 October

King congratulates Antigua and Barbuda Governor-General

GMT 00:05 2017 Thursday ,28 December

Guterres extends mandate of UN-backed Lebanon tribunal

GMT 01:49 2017 Wednesday ,18 October

Iran considered dropping Turkey to fight the Russian

GMT 00:02 2017 Friday ,01 September

July24th-August23rd
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday