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04-29-2016, 04:44 PM
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Gold poised for best week in eight on dollar slump
FUNDAMENTALS * Spot Gold was little changed at $1,265.61 an ounce by 0025 GMT, after climbing to its highest in a week at $1,269.70 on Thursday. * For the week, the metal is up 2.7 percent in what would be its biggest weekly jump since the week ended March 4. * The U.S. dollar and euro posted their biggest daily losses against the yen in more than five years on Thursday in the wake of the BOJ's surprise decision **t to further ease monetary policy. * The dollar was set for a 1.5-percent weekly loss against a basket of major currencies. Stocks around the globe fell, supporting safe-haven gold. * The Federal Reserve's decision on Wednesday to leave interest rates unchanged also helped. The Fed kept the door open to a hike in June while showing little sign it was in a hurry to tighten monetary policy amid an apparent slowdown in the U.S. eco**my. * Gold is highly sensitive to rising interest rates, which lift the opportunity cost of holding **n-yielding bullion while boosting the dollar, in which it is priced. * After three straight years of losses, analysts are finally prepared to say Gold prices have found a bottom, with rising prices seen this year and next as concerns over the pace of U.S. monetary policy tightening fade. * U.S. data on Thursday supported views the Fed will take a cautious stance in hiking rates this year. U.S. eco**mic growth braked sharply in the first quarter to its slowest pace in two years. * Assets in SPDR Gold Trust (GLD), the world's largest gold-backed exchange-traded fund, rose 0.19 percent to 804.14 tonnes on Thursday. * Among other precious metals, silver was on track for a fourth straight weekly gain, while platinum was eyeing its fifth weekly rise. أكثر... ??????? ??????: Gold poised for best week in eight on dollar slump || ??????: ahlam1399 || ??????: اسم منتداك
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