* Spot gold was nearly flat at $1,245.08 per ounce at 0104 GMT. It was set to end about 1 percent lower for the week, about 2 percent lower for month. For the quarter, gold is down 0.3 percent.
* U.S. gold futures for August delivery fell 0.1 percent to $1,245.10 per ounce.
* The dollar extended its losses on Friday as major central banks signalled that the era of cheap money was coming to an end in a boon to sterling, the euro and Canadian dollar, while Asian shares were hit by dismal performances of European and U.S. markets. [MKTS/GLOB]
* The world's top central bankers have delivered what seems to be a collective message this week that quantitative easing is being put back in its box and interest rates are going up - and global markets are taking note.
* British Prime Minister Theresa May won backing for her policy programme with a slender parliamentary majority on Thursday in the first test of her authority after an election setback and growing pressure on her Brexit and austerity agenda.
* Gold premiums in India jumped to the highest level in 7-1/2 months this week as consumers advanced purchases to avoid paying higher tax when a new nationwide sales tax takes effect from July 1. [GOL/AS]
* Gabriel Resources Ltd will seek $4.4 billion in damages from Romania for losses related to its long-stalled Rosia Montana gold mine project in a claim that the Canadian miner plans to file Friday with a World Bank Tribunal.
* Mali exported more than 16 tonnes of artisanally mined gold in the first four months of this year, the mines minister said on Thursday citing customs data, and is on track to export 50 tonnes for the year, equalling industrial output.
* The U.S. economy slowed less than feared in the first quarter due largely to a jump in consumer spending, providing a slightly more encouraging outlook for growth this year.
Gold steady on easing dollar, stocks amid hawkish central banks
Gold prices steadied on Friday, supported by an easing dollar and falling equities even as comments from global central banks suggested monetary tightening in Europe and Canada.
Latest from Wealthbuilder Team
- Indian economy in a tailspin: What went wrong
- Closing bell: Nifty closes below 10,00, Sensex falls 450 points, bank, metal stocks fall
- Sebi revokes trading ban against 244 entities for alleged market manipulation
- You can own the Apple iPhone 8 at just Rs 9200, but there is a catch
- Now, China snubs Pakistan at UNGA after Pak PM Shahid Khaqan Abbasi’s rant on Kashmir
Leave a comment
- Current Affairs
- Recent News
Now, China snubs Pakistan at UNGA after Pak PM Shahid Khaqan Abbasi’s rant on Kashmir
After getting rapped by US and India on terrorism, Pakistan…
India eyes $8 bn deal for 100 Avenger Predator drones with US for IAF
Having struck a deal with Washington recently to purchase Sea…
Rupee tumbles to 6-1/2 month low on news of Modi’s economic booster to support growth
Indian rupee dived to a six and a half month…
PSU Bank consolidation inches ahead as Vijaya Bank, Dena Bank enter merger talks
In early signs of the government’s ambitious plan for consolidation…
Indian economy in a tailspin: What went wrong
The National Democratic Alliance (NDA) won a landslide in the…
Closing bell: Nifty closes below 10,00, Sensex falls 450 points, bank, metal stocks fall
Indian shares fell around 1% on Friday, while the rupee…
Sebi revokes trading ban against 244 entities for alleged market manipulation
Regulator Sebi has lifted trading ban on 244 entities which…
You can own the Apple iPhone 8 at just Rs 9200, but there is a catch
Apple iPhone 8 and iPhone 8 Plus are finally here…