GulfBase Live Support
Leave a message and our representative will contact you soon
21/03/2017 05:35 AST
Gold prices hit a two-week high on Monday as the dollar slumped to near 6-week lows after the US Federal Reserve’s dovish outlook on the pace of rate increases this year continued to disappoint dollar bulls.
Spot gold rose 0.5 per cent to $1,234.60 per ounce by 07:35 GMT, after earlier touching $1,235.50 an ounce, its highest since March 6.
US gold futures gained 0.3 per cent to $1,234.10. The dollar index, which measures the greenback against a basket of currencies, was down 0.3 per cent at 100.040, after hitting a low of 100.020, its worst since February 7.
Gold prices have rebounded more than $35 from its low hit before the policy decision to boost rates last Wednesday, while the dollar has fallen 1.7 per cent from its high of 101.71 hit the same day.
Spot gold is expected to test a resistance at $1,237 per ounce, a break above which could lead to a gain to $1,243, Reuters technical analyst Wang Tao said. Holdings of SPDR Gold, the world’s largest gold-backed exchange-traded fund, fell 0.35 per cent to 834.10 tonnes on Friday.
Oman Daily Observer
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
(In US Dollar) | Change | Change(%) | |
---|---|---|---|
Gold | 1,332.2 | -8.6 | -0.64 |
Silver | 16.4 | -0.21 | -1.23 |
Platinum | 923 | -9 | -0.97 |
Palladium | 929 | -3 | -0.32 |
05/04/2018
Gold rose nearly 1 per cent on Wednesday as the dollar dipped and share markets faltered after China retaliated in kind to a US move to slap tariffs on $50 billion (Dh183.5 billion) worth of its impo
Gulf News
01/04/2018
Gold bulls are finding 2018 offers plenty of reasons to be cheerful. Bullion’s wrapping up a third quarterly gain, a feat not seen since 2011, and exchange-traded fund holdings are near the highest
Gulf News
23/03/2018
Gold steadied on Thursday below a two-week high hit in the previous session as the dollar slid after the US Federal Reserve showed a less hawkish stance on rates than expected.
The Fed ra
The Gulf Today
16/03/2018
Aluminium slid to a three-month low on Thursday, hurt by a rise in stocks, the prospect of looming US import tariffs, and expectations that supply from China will rise as its winter pollution control
Gulf News
14/03/2018
Gold slipped on Tuesday, pressured by a firmer dollar and concern that US inflation data later in the day will be robust, strengthening the case for more US interest rate hikes.
Analysts po
Gulf News