Egypt's NUCA, SHMFF sign New Cairo land allocation for integrated urban project    CIB named Egypt's Bank of the Year 2025 as factoring portfolio hits EGP 4bn    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Oil prices edge higher on Thursday    Gold prices fall on Thursday    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt to swap capital gains for stamp duty to boost stock market investment    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    Egypt recovers two ancient artefacts from Belgium    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    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    







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Gold off 11-week highs after Fed signals more rate hikes
Amwal Al Ghad Published in Amwal Al Ghad on 12 - 04 - 2018

Gold prices eased off multi-week highs on Thursday as minutes from the Federal Reserve's last policy meeting raised expectations for a faster pace of U.S. rate hikes.
Spot gold was down 0.1 percent at $1,351.48 an ounce as of 0111 GMT and U.S. gold futures fell 0.4 percent to $1,355 an ounce.
Gold on Wednesday rose to $1,365.23 per ounce, its highest since Jan. 25, buoyed by escalating tensions in Syria, U.S. sanctions on Russia and the U.S.-China trade spat.
U.S. President Donald Trump warned Russia on Wednesday of imminent military action in Syria over a suspected poison gas attack, declaring that missiles "will be coming" and lambasting Moscow for standing by Syrian President Bashar al-Assad.
Palladium has surged 6 percent this week on the back of concerns that supply from number one producer Russia could be hurt by sanctions imposed by the United States.
All of the Federal Reserve's policymakers felt that the U.S. economy would firm further and that inflation would rise in the coming months, minutes of the central bank's last policy meeting on March 20-21 released on Wednesday showed.
The U.S. Federal Reserve is worried about trade tensions with China, but newly released details on policymakers' views suggest those concerns have not translated into concerns about the overall economy.
U.S. consumer prices fell for the first time in 10 months in March, weighed down by a decline in the cost of gasoline, but underlying inflation continued to firm amid rising prices for healthcare and rental accommodation.
The International Monetary Fund is optimistic on the outlook for global growth but warned darker clouds are looming due to fading fiscal stimulus and rising interest rates.
South African miner Gold Fields will complete preparatory work in 2019 at its Salares Norte project in northern Chile and is eyeing potential output of around 345,000 ounces of gold a year at the site by the early 2020s, a company executive said.
Mongolia's anti-graft agency has arrested two former prime ministers as part of an investigation into suspected misuse of power by officials during two rounds of negotiations involving a big copper-gold mine, it said on Wednesday. Source: Reuters

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