Gold prices are strong, ready for Friday
Their first weekly gain in dollars since mid-April
Pullback from a two-decade high and growing concerns over the United States
Economic growth has revived demand for safe haven bullion.
Spot gold was up 0.2% at 1,845.71 per ounce
0556 GMT, rising to a one-week high of 1.9%
Thursday. US gold futures rose 0.1%
Pricing is coming together, with resistance
$ 1,850 and about 8 1,810 support, Brian Lan said management
The dealer is a director of Goldsilver Central.
Greenback-priced bullion prices rose about 1.9%
This week, the dollar coincides with what is set to be the first
Weekly loss in seven.
“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
China, meanwhile, has lowered its benchmark reference rate
Mortgages on an unexpectedly wide margin on Friday, this is the second
Decline this year as Beijing seeks to revive the sick
To boost the housing sector economy.
Spot Silver rose 0.5% to $ 22.00 per ounce, and has been
It has risen about 4.4% this week.
Platinum is up 0.1% to $ 963.49 and palladium is up
1. rose 1.4% to 2,034.63. Both were set for weekly gains
About 2.5% and 4.5%, respectively.
(Report by Bharat Govinda Gautam in Bangalore; edited by
Sherry Jacob-Phillips and Rashmi Ich)