Gold prices held steady on
Thursday, after rising nearly a percent in the previous session, as the dollar
retreated further from a 16-month peak against a basket of currencies.
FUNDAMENTALS
Spot gold was little changed at
$1,210.65 per ounce at 0055 GMT.
US gold futures were flat 0.1
percent at $1,203 per ounce.
The dollar index, which measures
the greenback against a basket of six major currencies, was down about 0.1
percent, nudged down by firmer pound and euro.
British Prime Minister Theresa
May won the backing of her senior ministers for a draft European Union divorce
deal on Wednesday, freeing her to tackle the much more perilous struggle of
getting parliament to approve the agreement.
Italy re-submitted its draft 2019
budget to the European Commission with the same growth and deficit assumptions
as a draft rejected for breaking European Union rules, stepping up its showdown
with the EU over its fiscal policy.
US consumer prices increased by
the most in nine months in October amid gains in the cost of gasoline and
rents, pointing to steadily rising inflation that likely will keep the Federal
Reserve on track to raise interest rates again next month.
Fed Chair Jerome Powell said the
introduction of press conferences after every Federal Reserve meeting next year
means all meetings are now "live" for possible rate increases.
China has delivered a written
response to US demands for wide-ranging trade reforms, three US government
sources said on Wednesday, a move that could trigger negotiations to bring an
end to a withering trade war between the world's top economies.
Paulson & Co, led by longtime
gold bull John Paulson, kept its stake in gold investments during the third
quarter of 2018 while other heavyweights including Soros Fund Management LLC,
Jana Partners LLC and Caxton Corp remained unexposed to the metal.
Pan American Silver Corp said
Wednesday it has agreed to buy Tahoe Resources Inc in a $1.07 billion cash and
stock deal that would create a top global silver miner but also include some
troublesome assets.
We provide you sure shot
Commodity Market Tips, Commodity Tips, Crude tips, Base metal tips, Mcx tips,
Gold tips, Silver and copper tips with Technical & Fundamental Research.
Read more at:
www.ripplesadvisory.com
Contact us @ +91-9644405056
Source: MoneyControl
No comments:
Post a Comment