Breaking News
0

PRECIOUS-Gold prices little changed amid firm dollar

CommoditiesMay 15, 2018 06:40
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
PRECIOUS-Gold prices little changed amid firm dollar

BENGALURU, May 15 (Reuters) - Gold prices were little changed on Tuesday, as the dollar held on to gains from the previous session after a Federal Reserve official backed the case for further interest rate hikes in the United States.

FUNDAMENTALS

* Spot gold XAU= rose 0.1 percent to $1,314.24 per ounce at 0056 GMT.

* U.S. gold futures GCcv1 for June delivery were, however, down 0.3 percent at $1,314.10 per ounce.

* The dollar index .DXY , which measures the greenback against a basket of six major currencies, was steady at 92.631. USD/

* The Fed should continue its gradual approach to raising interest rates given that inflation has not yet reached the U.S. central bank's 2 percent goal in a sustained way, Cleveland Fed President Loretta Mester said on Monday. The U.S. yield curve could invert later this year or early 2019, St. Louis Federal Reserve James Bullard said on Monday, in a market move in which short-term U.S. interest rates rise above longer-term bond yields, a scenario which has preceded recent U.S. recessions. Three European Central Bank policymakers stuck with an upbeat assessment of the euro zone economy on Monday, shrugging off signs of a slowdown in inflation and activity. Asia stocks pulled back on Tuesday, after an uninspiring performance on Wall Street eclipsed support from U.S.-China trade optimism, while supply concerns kept crude oil prices near 3-1/2-year highs. MKTS/GLOB

* Israeli troops shot dead dozens of Palestinian protesters on the Gaza border on Monday when the high-profile opening of the U.S. embassy to Israel in Jerusalem by the Trump administration raised tension to boiling point after weeks of demonstrations. President Donald Trump on Monday defended his decision to revisit penalties for Chinese company ZTE Corp (HK:0763) for flouting U.S. sanctions on trade with Iran, saying the telecom maker is a big buyer for U.S. suppliers. Holdings of SPDR Gold Trust GLD , the world's largest gold-backed exchange-traded fund, fell 0.17 percent to 856.17 tonnes on Monday. Shanta Gold SHAN.L will conduct further exploration near its main mine in Tanzania after cutting costs in the past year to cope with tougher mining laws, the chief executive told Reuters. CI Investments Inc sharply decreased its holdings in the world's biggest gold-backed exchange-traded fund during the first quarter of 2018, a U.S. Securities and Exchange Commission 13F filing showed on Monday. AHEAD (GMT)

1230 U.S.

Import prices

Apr

1230 U.S.

Export prices

Apr

1400 U.S. University of Michigan sentiment index

May

PRECIOUS-Gold prices little changed amid firm dollar
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email