Gold fell to its lowest level in 7-1/2 months on Thursday on a strong dollar and as tensions in Ukraine appeared to ease, failing to benefit from weaker shares after an unexpected rise in US jobless claims.
Spot gold slipped 0.7 p
Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike US interest rates sooner than expected.
Fed Chair Janet Y
Gold fell around one percent in thin trade on Thursday, a day after the US Federal Reserve announced a further cut in its stimulus programme and reiterated its confidence in the US economic outlook despite weak first-quarter growth.
The Federal Reserve has looked past a dismal reading on first quarter US. growth and gave a mostly upbeat assessment of the economy's prospects as it announced another cut in its massive bond-buying stimulus.
Ben Bernanke earned more in 40 minutes on Tuesday than he made all of last year as head of the US Federal Reserve.
Bernanke was paid at least $250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in
Federal Reserve Chair Janet Yellen said on Tuesday the US central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was "far from complete."
In her first public co
Spot gold climbed to its highest in nearly three months on Tuesday, as investors look for hints from the new Federal Reserve chief later in the session on whether the pace of its stimulus tapering may be slowed.
US gold futures ro
The Federal Reserve trimmed its bond purchases by another $10 billion as it stuck to a plan to wind down its extraordinary economic stimulus despite turmoil in emerging markets.
The action was widely expected, although some invest
Gold rallied for a fifth day to its highest level in nearly three weeks on Monday, as softer equity markets prompted investors to tap the asset's safe-haven qualities.
The metal's rally comes despite a stronger dollar and
Gulf shares rose on Thursday after a modest stimulus trimming by the US Federal Reserve and gains on global markets added fuel to bullish local sentiment and Egypt's bourse also climbed.
The region was never very vulnerable to