Gold muscles up for fifth straight session despite dollar's gains
2017-10-12 14:30:56 GMT (Economies.com)
Gold muscles up for fifth straight session despite dollar's gains

Gold futures advanced in American trade to the highest since September 26, even as the dollar index gained ground today, following an array of data from the US, the world's largest economy, and ahead of speeches by Federal Open Market Committee members Lael Bernard and Jerome Powel. 

 

As of 03:07 GMT, gold futures due on December 16 rose 0.44% to $1,294.60 an ounce from the opening of $1,288.90, while the dollar index rose 0.15% to 93.16 from the opening of 93.01. 

 

Earlier US data showed unemployment claims fell more than expected last week, as producers prices grew 0.4% in line with expectations in September, as core prices accelerated to 0.4% beyond forecasts. 

 

The Federal Reserve released the minutes for the September meeting, at which policymakers voted to hold interest rates unchanged at between one percent and 1.2% for the second session, while paving the way for normalizing the balance sheet by October. 

 

Gold futures are rebounding from a two-month low for the fifth session in a row amid renewed concerns about North Korea, after reports of Pyongyan's readiness to test long-range ballistic missiles that could reach the US western coast.  

 
 
 
  Symbol Last Change Chg.%
1.1775
0.0009
0.0752%
1.3218
0.0032
0.2457%
16.997
-0.051
0.299%
52.030
-0.005
0.010%
57.85
0.10
0.17%
1276.895
-3.650
0.285%
 
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