Gold hits five-month high

Dhaka,  Sun,  20 August 2017
Published : 17 Apr 2017, 13:14:06
printer

Gold rises on rising geopolitical tensions

Gold hits five-month high
Reuters
Gold hit a five-month high on Monday as the dollar weakened with investors taking refuge in safe-haven assets in the wake of rising geopolitical tensions over North Korea.

Spot gold was up 0.5 per cent at $1,291 per ounce as of 0239 GMT, after hitting its highest since early November at $1,295.42. 

Last week, the metal rose 2.5 per cent in its biggest weekly gain since June last year.

US gold futures were up 0.4 per cent at $1,293.30 on Monday.

The dollar dipped to a five-month low against the yen early on Monday.

The bullish sentiment in gold was underscored by data showing speculators increased their net long positions for a fourth straight week to April 11.

New York-listed SPDR Gold Shares ETF, the world's biggest gold-backed exchange-traded fund, said its holdings rose more than six tonnes on Thursday, the biggest one-day inflow in a month.

Spot gold is expected to rise to $1,303 per ounce as it has broken above a resistance at $1,282, according to Reuters technical analyst Wang Tao.

Spot silver was up 0.4 per cent at $18.59 after touching a five-month high of $18.649.

Platinum rose 0.5 per cent to $975.80, while palladium dropped 0.2 per cent to $793.40.
ADDRESS
Editor : A.H.M Moazzem Hossain
Published by the Editor for International Publications Limited from Tropicana Tower (4th floor), 45, Topkhana Road, GPO Box : 2526 Dhaka- 1000 and printed by him from City Publishing House Ltd., 1 RK Mission Road, Dhaka-1000.
Telephone : PABX : 9553550 (Hunting), 9513814, 7172017 and 7172012 Fax : 880-2-9567049
Email : editor@thefinancialexpress-bd.com, fexpress68@gmail.com
Copyright © 2017. All rights reserved
Powered by : orangebdlogo
close