Gold prices steadied early on Monday, after falling to the lowest in more than a week in the previous session, as expectations of an interest rate hike this month offset support from worries about a trade war.
Fundamentals
* Spot gold was nearly unchanged at $1,293.06 per ounce by 0111 GMT. It touched the lowest since May 23 at $1,289.12 an ounce in the previous session.
* U.S. gold futures for August delivery were down 0.2 percent at $1,297.10 per ounce.
* U.S. job growth accelerated in May and the unemployment rate dropped to an 18-year low of 3.8 percent, pointing to rapidly tightening labor market conditions, which could stir concerns about inflation.
* The Federal Reserve should continue to raise rates gradually over the next two years, a U.S. central banker said on Friday, with higher borrowing costs perhaps beginning to act as a brake on growth starting early next year.
* U.S. hedge fund Paulson & Co, led by long-time gold bull John Paulson, is set to name a group of investors that will work together to try to drive changes and better returns from gold mining companies after years of dismal industry performance, according to people familiar with the situation.
* Ghana's gold output rose to 2.805 million ounces in 2017, up 10.2 percent from the previous year, data from the Ghana Chamber of Mines showed on Friday.
Commodity MCX live Price
0 comments:
Post a Comment