Out of bounds
New York
gold come down amid profit - taking with the recovery of the dollar
came down gold yesterday (Monday), with the dollar 's recovery , which prompted some buyers to reap the profits of the yellow metal after a record sixth weekly increase in seven weeks.
The metal has risen more than 3 percent since the beginning of this month after ending last December on a strong performance, touching the highest level since August 2016 last week at 1366.07 dollars an ounce.
The strength of gold is largely due to the decline in the dollar index, which measures the performance of the US currency against a basket of major currencies, to the lowest level in three years. The recovery of the US currency today, after losing for six consecutive weeks, led to the fall of the yellow metal.
Spot gold fell 0.2 percent to $ 1,437.56 an ounce by 10:30 GMT, while the US metal futures contract for February delivery fell $ 5.80 to $ 1346.30 an ounce. On other precious metals, spot silver fell 0.1 percent to $ 17.37 an ounce. The metal was up 2.3 percent last week, marking the biggest increase between major precious metals. Platinum, the best performing metal since the start of the year, rose 0.1 percent to $ 1010 an ounce after dropping 0.3 percent last week to the first weekly loss in seven weeks.
gold come down amid profit - taking with the recovery of the dollar
came down gold yesterday (Monday), with the dollar 's recovery , which prompted some buyers to reap the profits of the yellow metal after a record sixth weekly increase in seven weeks.
The metal has risen more than 3 percent since the beginning of this month after ending last December on a strong performance, touching the highest level since August 2016 last week at 1366.07 dollars an ounce.
The strength of gold is largely due to the decline in the dollar index, which measures the performance of the US currency against a basket of major currencies, to the lowest level in three years. The recovery of the US currency today, after losing for six consecutive weeks, led to the fall of the yellow metal.
Spot gold fell 0.2 percent to $ 1,437.56 an ounce by 10:30 GMT, while the US metal futures contract for February delivery fell $ 5.80 to $ 1346.30 an ounce. On other precious metals, spot silver fell 0.1 percent to $ 17.37 an ounce. The metal was up 2.3 percent last week, marking the biggest increase between major precious metals. Platinum, the best performing metal since the start of the year, rose 0.1 percent to $ 1010 an ounce after dropping 0.3 percent last week to the first weekly loss in seven weeks.
Khartoum
Sudan will enter the field of gold coin production
The Sudanese government announced that it will enter the field of manufacturing gold coins within two months after contacts with Germany to establish a factory will produce one million pieces of gold coins. This came in remarks to the Sudanese Minister of Minerals, Hashem Ali Salem, on Sunday, after meeting with Bakri Hassan Saleh, Sudanese Vice President and Prime Minister, according to the Sudanese News Agency.
The minister, the Prime Minister, told the National Bank of the quantities of gold produced, which reached 107 tons of gold during 2017.
Sudan is trying to market gold within its available facilities to maximize revenue, rather than selling it abroad, but the country with its vast borders Suffers from the smuggling of a large part of its production.
CAIRO
: Egypt's third tranche of African bank loan The
Egyptian Ministry of Investment and International Cooperation signed the third and final tranche of half a billion dollars from the $ 1.5 billion African Development Bank loan. Egypt agreed in 2015 to a loan from the African Bank worth 1.5 billion dollars over three years, and a loan from the World Bank worth 3 billion dollars over three years, in addition to the agreement in 2016 on a loan of 12 billion dollars, also three years from the International Monetary Fund . Egypt received one billion dollars from the African Bank two tranches in two years, has not yet disbursed the last tranche of $ 500 million. The Egyptian government is implementing economic reforms to revive the economy, including increasing energy and drug prices, liberalizing exchange rates and passing new laws.
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