SGE set to launch total of 11 yuan-denominated physical gold contracts on Sept 29. Silver and platinum contracts to go live next year
SINGAPORE (Reuters) – Gold fell to fresh 7-1/2 month lows on Friday, poised to post its worst week in more than three months as a stronger dollar and easing tensions in Ukraine curbed appetite for safe-haven bullion.
The dollar index was holding near a 14-month high on Friday and was firmly on track to post its ninth consecutive week of gains, boosted by strong economic data and expectations the U.S. Federal Reserve would soon raise interest rates.
SINGAPORE (Reuters) – Gold was trading near a three-month low on Thursday, hit by fears of an early hike in U.S interest rates, a stronger dollar and an apparent easing of tensions over Ukraine.
With the dollar index trading near a 14-month peak on Thursday on increasing speculation that the U.S. Federal Reserve could soon raise rates, bullion investors were eyeing any uptick in physical demand in Asia for price support.