Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Gold dips

  • SOURCE: | Editor
  • goldGold slipped early Friday and was headed for its fifth straight weekly decline, as the dollar and Asian stocks steadied and the market awaited the U.S. non-farm payrolls data due later in the day.


    FUNDAMENTALS

    * Spot gold dipped 0.2 percent at $1,207.80 per ounce by 0052 GMT. Gold is on track to register its fifth straight weekly decline, and was currently down about 0.3 percent for this week.

    * U.S. gold was down 0.2 percent at $1,210.40

    * The dollar index held near a two-month peak, leaving it poised for a breakthrough should non-farm payrolls due later in the day bolster expectations for an imminent hike in U.S. rates.

    * Asian shares held steady on Friday as investors braced for U.S. payrolls data.

    * U.S. private employers increased hiring in May and new applications for jobless benefits fell last week, further boosting the economic outlook for the second quarter. Another report on Thursday showed planned layoffs by U.S.-based employers fell 53 percent to a five-month low last month.

    * The steady stream of upbeat data suggest the economy is regaining momentum after growth slowed sharply at the start of the year, which could allow the Federal Reserve to raise interest rates later this month or in July.

    * Dallas Fed President Robert Kaplan on Thursday reiterated his view that the central bank should raise interest rates soon because the economy is getting “pretty darn close” to full employment and inflation is starting to rise.

    * Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.51 percent to 875.20 tonnes on Thursday from 870.74 tonnes on Wednesday, the highest since October 2013.

    * The Perth Mint’s sales of gold products fell to the lowest in four years, while silver sales dropped to a nine-month low as consumers awaited a further fall in prices on expectations of an earlier-than-expected U.S. Federal Reserve interest rate hike.




    Source: http://classfmonline.com/1.9293108

    Share this article

    Leave a reply

    Personality of the Month
    Poll

    Do you think the President should fund the free SHS with oil revenue?

    Follow Us Online
    About Us
    Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
    Events Calendar
    << Sep 2018 >>
    MTWTFSS
    27 28 29 30 31 1 2
    3 4 5 6 7 8 9
    10 11 12 13 14 15 16
    17 18 19 20 21 22 23
    24 25 26 27 28 29 30
    Twitter Activity Stream
     

    Partners We are proud to be associated with:

    Skip to toolbar