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Gold drops one percent in New York

Gold fell 1 percent on Thursday on encouraging US economic growth data, but it sharply pared losses as an increase in business inventories fuelled speculation the Federal Reserve has to keep its bond-buying stimulus for now. Trading was extremely choppy. Bullion fell as much as 2 percent earlier in the session, but prices recovered as participants adjusted positions ahead of Friday's all-important November US nonfarm payrolls, traders said.

Spot gold was down 1.1 percent at $1,229.69 per ounce by 2:05 pm EST (1905 GMT), sharply off a low of $1,216.84 earlier in the session. US Comex gold futures for February delivery settled down $15.30 at $1,231.90 an ounce, with trading volume on track to finish in line with its 30-day average, preliminary Reuters data showed.

Holdings in SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, fell 2.70 tonnes to 838.71 tonnes on Wednesday, the lowest since early 2009. In other metals, silver followed gold's moves and was down 1.1 percent at $19.45 an ounce. Platinum fell 0.8 percent to $1,356.99, while palladium rose 0.8 percent to $730.50.

Copyright Reuters, 2013



 



 
Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln