Gold fell on Friday, snapping a seven-day rally as the dollar rebounded after Federal Reserve officials signalled they remained on track to raise rates this year, but the metal still looked set to post its second straight weekly gain.
Gold held near two-week highs on Friday, on track for its biggest weekly jump since January, after the US Federal Reserve sounded a cautious note on interest rates, arresting a dollar rally.
The US currency headed for its worst we
Brent crude oil traded almost $2 higher on Friday, on track for its second weekly increase, as fighting in Libya and stronger economic signals from the United States helped futures rebound from near-six-year lows.
Prices remain ro
There will be further short-term weakness in the price of crude oil, UBS Wealth Management's latest research has revealed.
But it indicates that gains in the latter half of the year will take the price to between $67-72 per ba
Gold has steadied on a modestly higher dollar but looked set to post its biggest weekly gain in 10 months as investors sought safety from volatility in wider markets after Switzerland unexpectedly abandoned a cap on the Swiss franc.
Egypt's government approved a 10 per cent capital gains tax on stock market profits, dividends and bonus shares, the country's Finance Minister Hany Dimian told Reuters in a phone interview on Thursday.
Dubai’s real estate market is gaining strength as new projects are launched by private and government developers alike on a weekly basis, according to Macdonald & Company, a leading property recruitment specialist.
Gold erased early gains on Monday that pushed it past the psychological $1,400 mark to an 11-week high, slipping on uncertainty over whether the US Federal Reserve will wind back its stimulus measures from next month.
Gold hit its highest in three weeks on Thursday as uncertainty about potential US Federal Reserve stimulus reduction kept the dollar under pressure, while holdings in the world's top gold-backed exchange traded fund (ETFs) rose.
Gold reversed early gains on Thursday as the dollar crept off six-week lows on brighter US economic data and investors fretted about a pull-back in monetary stimulus despite dovish comments from the Federal Reserve.