Gold Dips; Set at five for the first weekly profit as the dollar falls

Article content

Although gold prices fell on Friday, prices are falling

They were still set for their first weekly profit since mid-April, e.g.

The dollar is falling from a two-decade high and concerns are mounting

US economic growth on reviving demand for safe haven.

Spot gold was down 0.2% at 8 1,838.81 per ounce, by

0258 GMT, tracking slight rise in dollar per day.

US gold futures fell 0.1% to 8 1,839.30.

Gold prices have risen about 1.5% this week.

“The threat of recession is now giving way to the fear of US growth,

Ad 2

Article content

And the latter is helping gold, “said Stephen Ines, managing director

SPI is a partner in asset management, but the US Federal Dr.

The path of aggressive rate increase of reserves and quantitative hardening

There will still be major down-drafts for gold.

It may become less attractive as there is no interest in the bullion

To investors when short-term US interest rates are raised. It is

However, from time to time the price is seen as a safe store

The economic crisis.

The US Federal Reserve will raise interest rates by 2020

Just a month before the end of this year, put forward

Surviving a recession is already a significant risk, according to a Reuters poll

Found economists.

“It’s been an exciting week, after the bottom-up clean-up

Driven by higher actual yields of $ 1,800, it opened the door

Ad 3

Article content

Long-term strategic buyers set foot on a technical front

Downtrend, “said Ines.

SPDR Gold Trust, reflecting demand growth

The world’s largest gold-backed exchange-traded fund said

Holdings rose 0.66% to 1,056.18 tonnes on Thursday

Recent trend of loss.

Spot Silver fell 0.3% to 21.83 an ounce, but it did

It has risen about 3.6% this week.

Platinum is down 0.7% at $ 955.50, and Palladium

Decreased 0.1% to 99 1,997.65. Both were set for weekly gains

About 1.7% and 2.8%, respectively.

(Report by Bharat Govinda Gautam in Bangalore; edited by

Sherry Jacob-Phillips and Rashmi Ich)



Postmedia is committed to maintaining a lively but civic forum for discussion and encourages all readers to share their views on our article. Comments can take up to an hour to moderate before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications. You will now receive an email if you receive a reply to your comment, an update to a comment thread you follow, or if you follow a user’s comment. See our Community Guide for more information and details on how to adjust your email settings.

Leave a Reply

Your email address will not be published.