Gold was little changed on Friday, on track for a second weekly gain, bolstered by the Federal Reserve's caution on US interest rate hikes and worries over Greece, but a recovering dollar capped the upside.
Spot gold was up 0.
US producer prices in May recorded their biggest increase in more than 2-1/2 years as the cost of gasoline and food rose, suggesting that an oil-driven downward drift in prices was nearing an end.
The stabilisation in producer pri
Momentum is building up in Bahrain's real estate space with pent up demand for new real estate coming to the surface after a five-year hiatus, Kuwait Finance House-Bahrain managing director and chief executive Abdulhakeem Al Khayyat has said
Oil has rounded out its best monthly gain in six years on Thursday, with the two global benchmarks for crude rising between 20 and 25 per cent in April, helped by a weaker dollar and bets that a supply glut would ease.
After the J
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.