GOLD prices rose on Friday, as US Treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of US non-farm payrolls data, but a strong dollar put bullion on track for a weekly decline. Read more at The Business Times.
"The reason for gold not sort of firing higher right now is because the dollar is picking up steam," says Stephen Innes, chief market strategist at financial services firm AxiCorp.GOLD prices rose on Friday, as US Treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of US non-farm payrolls data, but a strong dollar put bullion on track for a weekly decline.
Spot gold was up 0.2 per cent at US$1,935.10 per ounce by 0651 GMT, off a near one-week low hit on Thursday. Bullion prices have declined 1.5per cent so far this week."It's a bit of a flight to safety right now that we are seeing in gold, because the stock markets are lower," said Edward Meir, an analyst at ED&F Man Capital Markets."What also could be helping gold is the sharp slide we are seeing in US yields.
Asia's stock markets slipped, following the steepest Wall Street sell-off since June, while benchmark 10-year US Treasury yields were on track for their biggest weekly decline in nearly three months. Lower bond yields reduce the opportunity cost of holding non-interest bearing gold.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold gains as stocks retreat; US jobs data in focus[BENGALURU] Gold prices rose on Friday, as US Treasury yields fell and a pullback in global equities bolstered demand for the safe-haven metal ahead of US non-farm payrolls data, but a strong US dollar put bullion on track for a weekly decline. Read more at The Business Times.
Read more »
China may dump US Treasuries as Sino-US tensions flare: Global TimesChina may gradually cut its holdings of U.S. Treasury bonds and notes, in light of rising tensions between Beijing and Washington, state-backed ...
Read more »
China biggest player in US election interference, says US national security adviserWASHINGTON (REUTERS) - China has the largest programme among countries seeking to interfere in the US election and has taken the most active role, US national security adviser Robert O'Brien said on Friday (Sept 4), although he provided no details.. Read more at straitstimes.com.
Read more »
US military sticks with Microsoft for US$10 billion Jedi cloud contractSAN FRANCISCO (AFP) - The US Department of Defence said on Friday (Sept 4) it is sticking with its decision to award a US$10 billion (S$13 billion) cloud computing contract to Microsoft, despite Amazon's claims that President Donald Trump improperly influenced the process.. Read more at straitstimes.com.
Read more »
US says US$1.8b needed to replace Huawei, ZTE parts[SAN FRANCISCO] US regulators estimated Friday that it could cost small telecoms firms more than US$1.8 billion to remove and replace Huawei and ZTE gear flagged over security concerns. Read more at The Business Times.
Read more »
US rural telecom networks need US$1.8b to remove Huawei, ZTE equipment: FCCIn June, the FCC formally designated Huawei and ZTE as threats to US national security, a declaration that bars US firms from tapping an US$8.3 ...
Read more »