Gold falls on firmer dollar, weaker Euro
Reuters|
Updated: Sep 25, 2017, 07.56 AM IST
Commodity Summary MCX
| GOLD |
Gold prices eased early on Monday, after registering a second consecutive weekly fall last week, as the US dollar firmed and as the euro edged lower on political uncertainty in Germany.
FUNDAMENTALS
Spot gold dipped 0.4 per cent to $1,292.40 per ounce at 0029 GMT. It fell about 1.7 per cent last week in what was its second straight weekly fall.
US gold futures for December delivery fell 0.2 per cent to $1,295.30 per ounce.
The euro slipped in early Asian trading on Monday after Germany's election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition.
Merkel won a fourth term in office on Sunday but Europe's most powerful leader will have to govern with a far less stable coalition in a fractured parliament after her conservatives haemorrhaged support to a surging far right.
US President Donald Trump dialled up the rhetoric against North Korea again at the weekend, warning the country's foreign minister that he and leader Kim Jong Un "won't be around much longer", as Pyongyang staged a major anti-US rally.
Trump on Sunday slapped new travel restrictions on citizens from North Korea, Venezuela and Chad, expanding the list of countries covered by his original travel bans that have been derided by critics and challenged in court.
US trade negotiators will only partially unveil new text on modifying a key chapter on investment under NAFTA, two well-placed sources said on Sunday, underlying the cautious pace of talks that are supposed to wrap up by the end of the year.
Iran will strengthen its missile capabilities and not seek any country's permission, President Hassan Rouhani said on Friday rejecting demands from Trump.
A proposal by US Republicans to repeal and replace the Obamacare health insurance program suffered serious new setbacks within the party on Sunday, when Senator Ted Cruz expressed his opposition and Senator Susan Collins dug in with strong criticism of the legislation.
Holdings at the SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, rose 0.45 per cent to 856.08 tonnes on Friday from 852.24 tonnes on Thursday.
FUNDAMENTALS
Spot gold dipped 0.4 per cent to $1,292.40 per ounce at 0029 GMT. It fell about 1.7 per cent last week in what was its second straight weekly fall.
US gold futures for December delivery fell 0.2 per cent to $1,295.30 per ounce.
The euro slipped in early Asian trading on Monday after Germany's election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition.
Merkel won a fourth term in office on Sunday but Europe's most powerful leader will have to govern with a far less stable coalition in a fractured parliament after her conservatives haemorrhaged support to a surging far right.
US President Donald Trump dialled up the rhetoric against North Korea again at the weekend, warning the country's foreign minister that he and leader Kim Jong Un "won't be around much longer", as Pyongyang staged a major anti-US rally.
Trump on Sunday slapped new travel restrictions on citizens from North Korea, Venezuela and Chad, expanding the list of countries covered by his original travel bans that have been derided by critics and challenged in court.
US trade negotiators will only partially unveil new text on modifying a key chapter on investment under NAFTA, two well-placed sources said on Sunday, underlying the cautious pace of talks that are supposed to wrap up by the end of the year.
Iran will strengthen its missile capabilities and not seek any country's permission, President Hassan Rouhani said on Friday rejecting demands from Trump.
A proposal by US Republicans to repeal and replace the Obamacare health insurance program suffered serious new setbacks within the party on Sunday, when Senator Ted Cruz expressed his opposition and Senator Susan Collins dug in with strong criticism of the legislation.
Holdings at the SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, rose 0.45 per cent to 856.08 tonnes on Friday from 852.24 tonnes on Thursday.
