Gold eased on Friday as investors locked in profits after the bullion surpassed $1,450 an ounce for the first time in more than six years on dovish signals on monetary policy from the U.S. Federal Reserve and fresh tensions in the Middle East.
Spot gold hit $1,452.60 an ounce in early trade, its highest since May 2013, and was down 0.5% at $1,439.41, as of 07:41 GMT.
The metal is on track for a second straight weekly gain.
U.S. gold futures jumped about 1% to $1,440.50.
At a central...
Gold touched a fresh six-year high amid dovish comments from Federal Reserve officials and increased Middle East tensions. Silver heads for the biggest weekly gain since July 2016.
Both metals gained after two senior Federal Reserve officials stressed the need to act quickly if the U.S. economy looked likely to stumble. Investors are also weighing tensions between U.S. and Iran as President Donald Trump said the U.S. œimmediately destroyed an Iranian drone that approached the...
Hong Kong stocks started Friday morning with small gains after two days of losses with buying supported by fresh hopes of a deep interest rate cut by the Federal Reserve later this month.
The Hang Seng Index rose 0.43 percent, or 123.49 points, to 28,585.15.
The benchmark Shanghai Composite Index added 0.29 percent, or 8.50 points, to 2,909.68 and the Shenzhen Composite Index, which tracks stocks on China's second exchange, gained 0.37 percent, or 5.77 points, to 1,554.41.
Source : AFP
Gold futures lost steam on Friday, ending lower for the session as the dollar strengthened. Prices, however, gained for the week after logging their first intraday climb above $1,450 an ounce in six years.
August gold trading fell by $1.40, or 0.1%, to settle at $1,426.70 an ounce, after touching an intraday high of $1,454.40. Friday™s intraday high and Thursday™s settlement were the loftiest for a most-active contract since mid-May 2013, according to Dow Jones Market Data.
Gold futures rose on Friday, adding to a push toward fresh six-year highs, amid a backdrop of lower interest rates and monetary-policy easing that bulls deem ideal for the metal to rally.
August gold trading was gaining $10.70, or 0.8%, to $1,438.80 an ounce, after hitting $1,448 an ounce in electronic trade Thursday at 4 p.m. Eastern time. Thursday™s settlement was the loftiest for a most-active contract since May 13, 2013, marking a fresh 52-week high for the commodity, according to Dow...