Breaking News

Gold tumbles on revived risk appetite, sterling chalks up losses

News Date: 14/4/2016 09:53:02
Gold prices slid on Thursday for the third session in a row as investors sell the safe haven in favor of more rewarding assets like stocks and oil futures, which enjoyed a recent rally as investors feel more optimistic about the future of global growth and China's steadiness.

Gold futures last traded at $1,236 an ounce, down a heavy 12 dollars on the day, or nearly one percent, while silver futures gave up 11 cents, or 0.67% to hover around $16.21 an ounce. Copper was flat at $2.168 a pound.

European shares gained further ground today, with the pan-European index FTSEurofirst 300 rising 0.30% to 1,354, while Germany's DAX outperformed the wider market, climbing 57 points, or over half a percentage point to trade at 10,087, holding firmly above the psychological level of ten thousand.  

Sterling on the other hand suffered further losses against the dollar as investors sweat a June referendum on Britain's EU membership, with the pound giving up 0.35% to trade at 1.4152. Euro on the other hand recovered some ground, rising 0.10% to hover around 1.1282.

Oil prices were largely flat today, as investors wait for a later meeting in Doha between major producers. Brent futures gained three cents, or 0.07% to $44.20 a barrel, while U.S. crude futures inched down three cents, or 0.07% to trade at $41.74 a barrel.

Latest news

Curse continues... Inflation is following us to 2023 Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that t
12-2022 30 06:28:23

Gold prices fluctuate with the reduction of dollar's losses Gold's prices varied after its positive start at the expense of the dollar’s decline, which tended to reduce its losses, while oil c
12-2022 29 03:29:32

Vladimir Putin takes revenge by Russian oil embargo President Vladimir Putin has banned Russian oil in response to the price cap. He has signed a decree retaliating against the West's imposition of
12-2022 28 03:04:38

Gold prices rose today, Tuesday, affected by the decline of the dollar, which declined by 0.3%, and gold rose by 0.4% to reach $1804.99 an ounce, and gold futures rose by 0.4% to reach $1811.90. The
12-2022 27 04:19:22

The first Saudi-Japanese ministerial dialogue meeting for energy The Saudi Prince of Energy and the Japanese Minister of Economy and Industry held a meeting in Riyadh - Saudi Arabia, in which they
12-2022 26 02:50:27

More News