Gold edged lower on Wednesday with appetite for the metal soured by a firmer dollar despite weaker Asian equities, and failure to breach a key resistance and a looming US rate hike suggest more downside risk.
Asian stocks sagged a
World stocks and commodity prices tumbled on Tuesday, as poor Chinese data saw fears about its economic health intensify.
After a few upbeat days for world markets, concern about China revived after surveys showed its manufacturin
Oman is committed to maintaining the peg of its currency against the US dollar despite the drop of oil prices, central bank executive president Hamood Sangour Al-Zadjali said.
"We are committed to keeping the Omani rial pegge
Gold fell on Tuesday as global markets rebounded from the previous day's rout after China cut interest rates to stimulate its wavering economy, with European stocks rising 4.5 per cent and the dollar up 1 per cent versus the euro.
Gold steadied on Friday after a rally to six-week highs ran out of steam, but it remained on track for the biggest weekly rise since mid-January as more bad economic data from China battered financial markets.
The Thai baht on Tuesday fell to its weakest level in more than six years on concerns that a bomb blast at a popular shrine in Bangkok may hurt the country's tourism.
The baht lost as much as 0.5 per cent, falling to 35.55 per
Algeria's currency has slipped to a record low against the US dollar, a central bank source said Monday, as falling crude prices more than halved vital oil revenues and hit public finances.
The central bank, which keeps the di
Gold fell one per cent on Thursday, snapping five sessions of gains, as the dollar strengthened on the back of upbeat US data and concerns eased over further losses in the yuan after the devaluation of the currency by China.
The Indian rupee fell sharply on Wednesday to touch its lowest level against the US dollar since September 2013, as China’s move to devalue the yuan sparked fears of a global currency war.
The partially convertible rupee fel
Crude oil futures slid further on Friday due to gains in the dollar, sending it rolling towards its longest run of weekly losses since the turn of the year.
The global crude benchmark was already on track for i