Gold in narrow range
BENGALURU. — Gold prices moved in a narrow range yesterday after losses in the previous session, with robust US economic data and hawkish comments from Federal Reserve policymakers boosting the dollar.
Spot gold was up 0,1 percent at $1,198.16 an ounce at 0103 GMT, after falling about 0,5 percent in the previous session.
US gold futures were down 0,1 percent at $1 202,1 an ounce.
The dollar index against a basket of six major currencies was up 0,3 percent, after climbing to a six-week peak of 96,116 overnight.
US services sector activity raced to a 21-year high in September and companies boosted hiring, signs of enduring strength in the economy at the end of the third quarter. The upbeat reports on Wednesday likely keep the Federal Reserve on track to raise interest rates again in December.
The Fed may raise interest rates above an estimated “neutral” setting as the “remarkably positive” US economy continues to grow, Fed Chairman Jerome Powell said on Wednesday. — Reuters.
You Might Also Like
-
Wallace Ruzvidzo and Farirai Machivenyika MAJOR companies, including an airline, are through with the necessary technicalities allowing them to accept payments in ZiG, with Reserve Bank Governor Dr John Mushayavanhu assuring Parliament yesterday that the Central Bank has enough reserves to back the new currency. ZiG continues to show its viability as the exchange tender […]
Agriculture Journal
Comments