Register
Login:
Share:
Email Facebook Twitter


Exclusive: Hayden Locke, CEO Emmerson plc, a low cost high margin potash investment
Richard Slape, Oil consultant - Avoiding Losers and Picking Winners, his personal strategy


Alliance News


Gold Fails To Hold Gains, Settles Lower

Thu, 10th Jan 2019 19:27


WASHINGTON (Alliance News) - Gold futures pared early gains and settled lower on Thursday as the dollar rebounded from earlier weakness.

Traders were looking ahead to the Federal Reserve Chairman Jerome Powell's comments at the Economic Club of Washington, D.C.

Gold held steady earlier in the day, extending gains from the previous session and the greenback was subdued after the minutes of the central bank's December meeting suggested a likely pause in monetary tightening this year. Most of the Fed members were looking for greater clarity on the economic condition before further rate hikes, the minuted said.

Today, the dollar gained in strength after earlier weakness and moved higher against most major currencies. The dollar index recovered from 94.63 and was hovering around 95.10, gaining about 0.3%.

Gold futures for February ended down USD4.60, or 0.4%, at USD1,287.40 an ounce.

On Wednesday, gold futures ended up USD6.10, or 0.5%, at USD1,292.00 an ounce.

Silver futures for March ended at USD15.643 an ounce, down USD0.092 from previous close.

Copper futures for March settled at USD2.637 per pound, down USD0.020 from Wednesday's close.

In economic news, data released by the Labor Department showed a bigger than expected drop in initial jobless claims in the week ended January 5th. The report said initial jobless claims fell to 216,000, a decrease of 17,000 from the previous week's revised level of 233,000. Economists had expected jobless claims to dip to 225,000 from the 231.000 originally reported for the previous week.

Meanwhile, trade talks between the US and China concluded yesterday with no significant breakthroughs. A statement from the office of US Trade Representative Robert Lighthizer said the talks included discussions on China's pledge to purchase a substantial amount of US goods and services but did not provide details about the tone or outcome of the meetings.

A statement from China's Commerce Ministry described the talks as "extensive, in-depth and detailed" and said the meetings "laid a foundation for the resolution of each others' concerns."

Copyright RTT News/dpa-AFX

Alliance News



Back to Alliance News


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk




Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.