The bank said it was likely to apply a stimulus to the economy within three weeks after assessing how it has affected the economy referendum where UK he chose to leave the European Union.
spot gold fell as much as 1.5% to $ 1321.79 an ounce.
London (Reuters) .- gold fell 1.5% today on Thursday at a time when global equities remained in positive territory after the Bank of England surprised investors to maintain stable interest rates in that country.
the bank said it was likely to apply a stimulus to the economy within three weeks after assessing how it has affected the economy’s referendum on June 23 where UK opted out of the European Union.
the spot gold it fell to 1.5%, to $ 1,321.79 an ounce, the lowest since July 1, and 1158 GMT was down 1.3% to $ 1,325.36.
gold hit two-year highs of $ 1,374.91 last week, after the so-called “Brexit” because the concerned investors began to place their money in safe haven assets.
after five weeks on the rise, the metal was pressed after a strong report on non-farm payrolls in the US on Friday, which some saw as a boost to the prospects for a rise in interest rates by the Federal Reserve.
the president of the Philadelphia Fed, Patrick Harker said Wednesday that the central bank may raise interest rates up to two times before year-end, slightly moderating their expectations of monetary tightening despite assert that the economy has a “fairly firm footing”.
Among other metals, palladium fell 0.6%, to $ 637 an ounce after hitting eight-month highs of $ 647.20 in the previous session.
Meanwhile, silver was down 1.2% to $ 20.07 an ounce, while platinum was down 1% to $ 1,078 the ounce.
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