close
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!
REUTERS
October 14, 2018

Gold falls

Business

REUTERS
October 14, 2018

Bengaluru : Gold prices eased on Friday, the session after their biggest daily gain in more than two years, coming under pressure as the U.S. dollar climbed and global stocks rebounded from a six-day rout.

Spot gold was down 0.5 percent at $1,217.81 an ounce by 13:55 p.m. EDT (1755 GMT). On Thursday, bullion jumped about 2.5 percent on safe-haven buying during an equities selloff.

Thursday´s peak of $1,226.27 was the highest since July 31. Spot gold was on track for its biggest weekly gain in seven weeks, up about 1.3 percent for the week.

U.S. gold futures settled down $5.6, or 0.46 percent, at $1,222. "A rally in the U.S. dollar is putting downward pressure on gold today," said Alex Turro, market strategist at RJO Futures.

The dollar index rose as global equities rebounded from a multiday selloff, boosted by strong export data in China.

Topstory minus plus

Opinion minus plus

Newspost minus plus

Editorial minus plus

National minus plus

World minus plus

Sports minus plus

Business minus plus

Karachi minus plus

Lahore minus plus

Islamabad minus plus

Peshawar minus plus