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Gold is climbing as the dollar slides, but rising equities are holding back gains

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Gold is climbing as the dollar slides, but rising equities are holding back gains

Post by claud39 on Mon Jan 07, 2019 7:18 am


Gold is climbing as the dollar slides, but rising equities are holding back gains


Economy News - Baghdad

Gold prices rose on Monday, supported by a weaker dollar on expectations that the Federal Reserve may slow monetary policy tightening in 2019, but improved investor appetite for risk has cut yellow gold gains from a safe haven.
The price of palladium in spot transactions is still slightly higher than the price of gold. Palladium exceeded $ 1,300 an ounce on Friday, reaching an all-time high of $ 1,310.
By 0752 GMT, spot gold was up about 0.4 percent at $ 1290.42 an ounce.
The price of gold in US futures futures rose 0.5 percent to 1291.90 dollars an ounce.
On Friday, Federal Reserve Chairman Jerome Powell said he was aware of the risks associated with the economic slowdown and would be patient and flexible in monetary policy decisions this year.
Investors had expected the Fed to keep tightening monetary policy after raising interest rates three times last year, but the current trade row and recent disappointing corporate profits have dented expectations.
The dollar index, which tracks the performance of the greenback against a basket of six major currencies, fell 0.2 percent.
The rally in Asian shares triggered by the US Fed's more hawkish stance and strong US jobs data helped to reduce the bullish momentum of the yellow metal.

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