Sunday Jul 13, 2025
Saturday, 25 October 2014 00:00 - - {{hitsCtrl.values.hits}}
Gold edges higherLONDON (Reuters): Gold inched up on Friday as European shares fell but was set to snap a two-week winning streak on a firm dollar and robust economic data that dented demand for the metal as an insurance against risk. Spot gold was up 0.1% at $1,232.10 an ounce by 0956 GMT, after slipping more than 1 percent in the previous two sessions. US gold futures were up 0.3% at $1,232.50 an ounce. The metal was headed for a weekly loss of 0.5%, depressed by the rebound in the dollar. Gold has benefited from the low interest rates and increased central bank liquidity that have prevailed in the years after the 2008 financial crisis. The metal was helped by a fall in European shares on Friday as investors fretted about news that a doctor who recently returned to New York from West Africa had tested positive for Ebola. Holdings in SPDR Gold Trust, the world’s top bullion exchange-traded fund, fell to their lowest since late 2008 this week in a sign of lingering bearish sentiment in the bullion market. The fund this week recorded its biggest daily percentage drop in holdings in a year despite a price jump to a six-week high. However, the metal was supported by a jump in sales in India during the festivals of Diwali and Dhanteras. India is the world’s second biggest consumer of gold behind China. Among the other precious metals, spot silver rose 0.4% to $17.21 an ounce. Platinum was up 0.3% at $1,252.50 an ounce, while palladium rose 0.8% to $780.22 an ounce, making it the week’s best performer among precious metals with a 4% jump. |
Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.
Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.