Gold slips as dollar rises after China data


11/08/2012 08:45 AST  The Economic Times
Related Quotes
Gold
1366.9 -16.20 -1.17%
 
Silver
21.68 -0.08 -0.37%
 
Platinum
1441 8.00 0.56%
 
Palladium
708 -5.00 -0.70%
 

Gold inched down on Friday as the U.S. dollar rose following the release of weak economic data from China, but the metal remained on track for a weekly gain, bolstered by hopes China could move to stimulate growth.

Gold fell 0.4 percent to $1,609.90 an ounce by 1007 GMT but was still on track for a small weekly gain, having risen on Thursday on hopes for stimulus measures by China after data showed factory activity had slowed unexpectedly.

Asian shares and other financial markets weakened on Friday after China's July trade data fell far short of expectations, but downbeat Chinese economic figures have kept hopes alive that Beijing will do more to bolster growth.

"Gold is trading broadly in line with other asset classes this morning as you see disappointment in the Chinese data, and that flows into the U.S. dollar," Credit Suisse analyst Tom Kendall said.

For more on this Click Here
Precious Metals News
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | News Archive

JAN | FEB | MAR | APR | MAY | JUN
Most Viewed News
Most Viewed Companies
Ticker Price Volume
RIBL 24.7 220,469
EMAAR 5.66 7,755,492
UCA 36.5 203,884
ALKHODARI 31.2 395,717
WATANIYA 99.25 509,246
NBAD 12.35 328,558
SAGRINSURANCE 24.2 518,593
Recent News

Transport Drives DFM Index Higher
The DFM General Index rose 0.56 percent to close the day at 2,392.85 points on Wednesday 19th June 2013, up 13.36 points from its previous close.

Large cap, Med cap and Micro Cap indices en

Small Cap Keeps QE Index in the Downward Territory
The QE index weavering between north and south again witnessed a bearish trend on Wednesday 19th June 2013. The index dropping 21.04 points or 0.23 percent reached at 9,340.01 levels.

Sma

ADX Index Sustains Upward March
The ADX General Index earlier slipped into the red territory but then jumped up into the green territory and closed the day at 3,664.99 levels on Wednesday 19th June 2013, up 5.45 points or 0.15 perc

Rakbank bags gold for AMAL TVC
Rakbank was announced the winner of the Gold Summit Creative Award (SCA) for its AMAL Launch Television campaign during the recent 2013 Summit International Award (SIA) held in the United States.

KFH capital increase subscribed amounts
Kuwait Finance House KFH Chairman Muhammad Ali Al-Khudairy said: The subscription process in the capital increase of 20% approved by the Extraordinary General Assembly on April 24th 2013 by a value

Research Reports
GCC Stock Markets - Daily Daily Market Review - Saudi Stock Exchange Daily Market Review - Dubai Financial Market Daily Market Review - Abu Dhabi Securities Exchange Daily Market Review - Kuwait Stock Exchange more..
GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Are you satisfied with your full-service broker?