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Gold edges down in Asian trade

Gold edged down on Friday, pressured by a firmer dollar and following a rise of almost 1 percent in the previous session, but the precious metal was close to flat for the week after two weeks of gains on a patchy recovery in the global economy. Gold has gained more than 9 percent so far this year as concerns over economic growth have boosted its safe haven appeal, although prices are nowhere near the all-time high of around $1,920 an ounce touched in 2011.

Cash gold eased $5.46 an ounce to $1,317.05 by 0345 GMT, down from a 3-1/2 month high at $1,332.10 hit on Tuesday. Dealers saw purchases in the physical market this week, but many jewellers could be waiting for a correction. Premiums for gold bars were steady in Hong Kong and Singapore, but dropped in Tokyo because of gains in Tokyo gold futures.

Copyright Reuters, 2014



 



 
Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
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Arrow Sensex 27,090.42 0.08





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln