Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

PRECIOUS-Gold prices edge up from one-week low after steep fall

Published 2018-03-28, 09:58 p/m
© Reuters.  PRECIOUS-Gold prices edge up from one-week low after steep fall

March 29 (Reuters) - Gold prices inched up on Thursday, still hovering near a one-week low hit in the previous session when a rebound in the dollar pushed bullion to its biggest one-day fall in nearly nine months.

FUNDAMENTALS

* Spot gold XAU= rose 0.2 percent to $1,327.20 per ounce at 0152 GMT. Prices fell 1.5 percent on Wednesday, their biggest one-day percentage decline since July 3, 2017.

* U.S. gold futures GCcv1 for April delivery rose 0.2 percent to $1,326.50 per ounce.

* The dollar held firm against the yen on Thursday, helped in part by hopes of easing tensions in East Asia. The dollar index .DXY , which measures the greenback against six other major currencies, was steady at 90.039. USD/

* Asian stocks edged up amid perceived progress on North Korean tensions, although equity gains were limited after a tech-led retreat on Wall Street. MKTS/GLOB

* North Korea's leader Kim Jong Un pledged his commitment to denuclearisation and to meet U.S. officials, China said on Wednesday after his meeting with President Xi Jinping, who promised China would uphold friendship with its isolated neighbour. U.S. President Donald Trump's tariffs on Chinese goods may not be imposed until early June, administration officials said on Wednesday, with public consultations and potential tariff revisions buying time for negotiations to forestall them. China could target a broad range of U.S. businesses from agriculture to aircraft, autos, semiconductors and even services if the trade conflict with the United States escalates, the China Daily newspaper said on Thursday. U.S. economic growth slowed less than previously estimated in the fourth quarter as the biggest gain in consumer spending in three years partially offset the drag from a jump in imports. The U.S. Federal Reserve should continue to raise interest rates back to the long-term neutral rate given how close the central bank is to its goals, Atlanta Fed President Raphael Bostic said on Wednesday. South Africa's DRDGOLD DRDJ.J said on Wednesday its shareholders voted in favour of all resolutions relating to the firm's proposed acquisition of assets from Sibanye-Stillwater SGLJ.J . Mexico's silver output fell 13.6 percent in January compared to the same month last year, data from the national statistics institute INEGI showed on Wednesday.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.