Gold futures rallied to end higher for a second straight session Thursday, with investors anxiously awaiting the crucial jobs data for January due tomorrow. Nonetheless, the gains were marginal after some upbeat economic data from the U.S. dulled the appeal for the precious metal, with the European Central Bank and the Bank of England maintaining the status quo on interest rates and quantitative easing.
The European Central Bank on Thursday left its main lending rate unchanged at 0.25%, in line with expectations. The ECB indicated continuation of its low interest rates, terming the economic recovery as uneven and fragile. As well, the Bank of England left its bond-buying program unchanged while holding on to its key lending rate at a record low of 0.5%.
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The spot gold price fell during Asian morning trading hours on Monday September 25, as the dollar strengthened and a quiet weekend on the North Korean front saw a further deterioration in any risk-of
Jewellery lovers who hit the shops today may find some good bargains, with retail rates registering a nearly Dh5 per gram decline compared to previous weeks. The relatively cheaper prices, however,
Gold may be a winner again this week as investors continue to seek refuge from increasingly tense politics.
Tensions between the United States and North Korea, triggered by a war of words bo
Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as investors sought refuge amid escalating tensions between the United States and the Democratic People's Republi
Gold recovered from a four-week low on Friday as investors sought a safe haven from geopolitical uncertainty caused by rising tensions between North Korea and the United States.
Bullion is o