The sharp decline of 6.44 percent in the yellow metal last week marked a fundamental shift in global investments from commodities to equities, Gerhard Schubert, the head of precious metals at bank Emirates NBD said Saturday.Gold prices fell to 1,480 U.S. dollars per ounce on Friday, down by 102 dollars from last week.In his weekly assessment of precious metals, Schubert said the main drivers behind the slide were outflows from exchange traded funds with a gold underlying, a stronger U.S. dollar and stronger U.S. equity markets which had positive spillover effects on most other equity markets in the world.Gold is now at par with the price of platinum which Schubert also judged a bearish indicator.Although central banks would continue to buy gold for risk diversification and despite expected stronger physical demand from India and China, the expert added that those supportive actions for the price of gold "might not be able to stem the flow of further liquidation from longs exiting the gold market in favor of other asset classes, most likely to be investing in equities."Stock markets in the United States, Europe and many emerging markets like in the Gulf Arab region reached all-time-highs and multi-year highs respectively last week amid growing trading turnover
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