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,
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
“It’s been an exciting week, after the bottom-up clean-up
Driven by higher actual yields of $ 1,800, it opened the door
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)