SINGAPORE (Reuters) – Gold fell to its lowest level in nearly a week on Tuesday as a stronger dollar outweighed any safe-haven demand from lower equities and heightened tensions over Ukraine.
Palladium hovered near a 13-1/2 year high on fears that possible Western sanctions on Russia could hit supply, while silver tracked gold lower as the dollar hit a seven-month peak against the yen and held near a one-year high against the euro.
SINGAPORE, Aug 22 (Reuters) – China’s planned global gold
exchange has signed up more members than targeted, as foreign
banks and trading houses seek direct access to the world’s top
physical gold consumer and to test out reforms allowing them to
trade commodities in the yuan currency.
The strong response from foreign players will boost efforts
by China – also the world’s biggest producer of gold – to gain
pricing power over the metal and to challenge the dominance of
London and New York in trading.
SINGAPORE (Reuters) – Gold held near a two-month low on Friday and was headed for its worst week in five, hurt by strong U.S. economic data and fears that the Federal Reserve could hike interest rates sooner than expected.
Bullion was hit hard after minutes from the Fed’s July meeting on Wednesday showed policymakers debated whether interest rates should be raised earlier given a surprisingly strong job market recovery.