Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt exports first high-tech potato seeds to Uzbekistan after opening market    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Sudan's ambassador to Egypt holds reconstruction talks on with Arab League    I won't trade my identity to please market: Douzi    Sisi calls for boosting oil & gas investment to ease import burden    Egypt welcomes 25-nation statement urging end to Gaza war    Sisi sends letter to Nigerian president affirming strategic ties    Egypt, Senegal sign pharma MoU to unify regulatory standards    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt, Somalia discuss closer environmental cooperation    58 days that exposed IMF's contradictions on Egypt    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Gold up on a softer dollar; US CPI, Fed minutes in focus
Published in Amwal Al Ghad on 11 - 04 - 2018

Gold prices rose early on Wednesday as the dollar index hovered near two-week lows, with markets awaiting key U.S. inflation data and minutes from the Federal Reserve's March meeting.
Spot gold was on track for a fourth straight session of gains, up 0.2 percent at $1,341.26 an ounce as of 0114 GMT. Prices earlier rose to a one-week high of $1,342.64 an ounce. U.S. gold futures were unchanged at $1,346 an ounce.
The dollar index, which measures the greenback against six other major currencies, was steady at 89.567, not far from a two-week low of 89.544 hit on Tuesday.
Chinese President Xi Jinping promised on Tuesday to open the country's economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States.
U.S. President Donald Trump welcomed Xi's promise to open China's economy further, expressing confidence the world's two largest economies would come through an ongoing trade spat and "make great progress together."
U.S. producer prices increased more than expected in March, boosted by rising healthcare and food costs, pointing to a steady buildup of inflation pressures.
The U.S. economy likely expanded at a 2.0 percent annualized rate in the first quarter in the wake of the March payrolls data released on Friday, the Atlanta Federal Reserve's GDPNow forecast model showed on Tuesday.
The Bank of England should not delay raising interest rates again, one of its top policymakers, Ian McCafferty said, pointing to the possibility of faster pay rises and the recent strong pick-up in the world economy.
The European Central Bank could stagger the process of raising euro zone interest rates by first lifting its sub-zero deposit rate back toward positive territory, one of its longest-standing policymakers, Ewald Nowotny, said on Tuesday.
Kin Mining decided to curtail construction works on the Leonora gold project pending a full review of capital cost and schedule for completion, the company said on Wednesday. Source: Reuters


Clic here to read the story from its source.