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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Gold is stable amid pressure on the dollar

    Rocky
    Rocky
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    Gold is stable amid pressure on the dollar Empty Gold is stable amid pressure on the dollar

    Post by Rocky Fri 24 Nov 2017, 6:13 am

    Gold is stable amid pressure on the dollar
    Economy News _ Baghdad
    Gold prices continued to move in a tight range on Friday as pressure continued on the dollar after the minutes of the Federal Reserve meeting showed that some policymakers were concerned about low inflation levels.
    Gold was little changed in spot trading at $ 1291.06 an ounce by 0748 GMT. The yellow metal fell 0.3 percent on a weekly basis.
    Gold in US futures contracts for delivery in December fell 0.1 percent to $ 1290.70 an ounce.
    Many Fed policymakers expect to raise interest rates in the "near term" according to minutes of the meeting of the Monetary Policy Committee of the US Central Bank last published on Wednesday.
    However, some members expressed concern about inflation expectations and confirmed that they would wait for the next economic data before deciding on the timing of future rate hikes.
    Cameron Alexander, analyst at Thomson Reuters' GMS Metals Consulting, said the cautious outlook for inflation could keep interest rates low for longer, providing fertile ground for gold investment.
    Raising interest rates would boost the dollar and raise bond yields, putting pressure on yellow metal prices by increasing the opportunity cost lost to holders of a yellow metal that is not yielding.
    The dollar index, which measures the performance of the greenback against a basket of six major currencies, has not changed significantly at 93.214.
    Among other precious metals, silver rose 0.4 percent to $ 17.12 an ounce, while platinum rose 0.4 percent to $ 936.90 an ounce.
    Palladium fell 0.2 percent to $ 1009.80 an ounce after touching a two-week high of $ 1013.70 an ounce in the previous session.


    http://economy-news.net/content.php?id=9888

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