Spot gold rose 0.2% to $1,226.71/oz at 3.13am GMT. Spot gold rose 0.5% in the previous session, its best one-day gain in a month. Bengaluru — Gold prices rose on Friday for a second consecutive session as political uncertainty in the US following the sacking of Federal Bureau of Investigation (FBI) director James Comey pressured the dollar and equities fell. "Whatever Trump says is important and is affecting the markets and may influence gold prices for the short-term," OCBC analyst Barnabas Gan said. Gold is highly sensitive to rising rates, which lift the opportunity cost of holding nonyielding assets such as bullion, while boosting the dollar, in which it is priced.
as informed in Market participants were now looking ahead to upcoming data on U.S. inflation, retail sales and consumer sentiment, due later Friday. On the Comex division of the New York Mercantile Exchange, for June delivery were up 0.26% at $1,227.36. Elsewhere in metals trading, for July delivery jumped 1.13% to $16.448 a troy ounce, while for July delivery rose 0.20% to $2.513 a pound. A weaker U.S. dollar usually supports gold, as it boosts the metal's appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies. The June contract ended Thursday's session 0.43% higher at $1,224.20 an ounce.
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as informed in Market participants were now looking ahead to upcoming data on U.S. inflation, retail sales and consumer sentiment, due later Friday. On the Comex division of the New York Mercantile Exchange, for June delivery were up 0.26% at $1,227.36. Elsewhere in metals trading, for July delivery jumped 1.13% to $16.448 a troy ounce, while for July delivery rose 0.20% to $2.513 a pound. A weaker U.S. dollar usually supports gold, as it boosts the metal's appeal as an alternative asset and makes dollar-priced commodities cheaper for holders of other currencies. The June contract ended Thursday's session 0.43% higher at $1,224.20 an ounce.
as informed in
Gold steady as US political concerns pressure dollar; stocks drop
Spot gold rose 0.5 per cent in the previous session, its best one-day gain in a month. Gold prices rose on Friday for a second straight session as political uncertainty in the United States following the sacking of FBI chief James Comey pressured the dollar and equities fell. Spot gold rose 0.2 per cent to $1,226.71 per ounce at 0313 GMT. "Whatever Trump says is important and is affecting the markets and may influence gold prices for the short-term," OCBC analyst Barnabas Gan said. Asian stocks followed an overnight drop on Wall Street, with MSCI's broadest index of Asia-Pacific facebook/" target="_blank">shares outside Japan falling 0.3 per cent.read more visit us gold
collected by :Jack Luxor
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