All
 

 

Just in:  

You are here: Home»General News»Pakistan»Gold up in New York

Gold up in New York

Gold pared gains Thursday from a two-week high, clinging to short-covering gains despite the US dollar's recovery after a more cautious than expected interest rate statement from the US Federal Reserve. Spot gold hit a peak of $1,177.46 an ounce earlier in the session as the dollar tumbled after the US Federal Reserve signalled a slower pace of interest rate hikes and gave a cautious outlook for the US economy.

Gold pulled back as the dollar rose from an early low to rise against a currency basket. The currency extended gains after jobless data indicated the American labour market remained on a solid footing despite slowing economic growth.

"A higher US dollar will be a major negative driver for precious metals going forward," ABN Amro analyst Georgette Boele said.

Spot gold was up 0.2 percent at $1,169.26 an ounce at 2:49 pm EST (1849 GMT) and US gold futures for April delivery closed up $17.70 an ounce at $1,169.00 despite the greenback's recovery.

"The market had gotten pretty short in the run-up to the Fed statements," said HSBC analyst James Steel.

Silver was up 1.2 percent at $16.09 an ounce after touching a two-week high of $16.18, while spot platinum was up 0.3 percent at $1,117.50 an ounce and spot palladium was down 2.1 percent at $764 an ounce.

Copyright Reuters, 2015



 



 
Index Closing Chg%
Arrow DJIA 17,730.11 0.16
Arrow Nasdaq 5,009.22 0.08
Arrow S&P 2,076.78 0.03
Arrow FTSE 6,585.78 0.67
Arrow DAX 11,058.39 0.37
Arrow CAC-40 4,808.22 0.57
Arrow Nikkei 20,539.79 0.08
Arrow H.Seng 26,064.11 0.83
Arrow Sensex 28,092.79 0.53





New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk



Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln