Northeastern University in Boston says the action was taken after some protesters resorted to virulent anti-Semitic slurs
world4 hours ago
Spot gold was down at 887.90/888.95 an ounce by 1117 GMT from $890.75/891.95 late in New York on Wednesday, when it jumped nearly $7 on a falling dollar and higher oil prices.
Earlier on Thursday the precious metal hit $895.05 an ounce, its highest since June 9.
"It is mostly the dollar and oil," said Mitsubishi Corp analyst Tom Kendall. "We had a little run up (yesterday) mostly on the back of crude."
Another analyst said a couple of banks were selling.
"Disappointed longs perhaps," he said, adding that gold prices are likely to trade in a range of $885-$900.
A firm U.S. currency makes metals priced in dollars expensive for holders of other currencies, while gold is seen as a store of value during times of inflation, which is threatening to turn into a spiral.
The dollar rallied broadly on Thursday, benefitting as the Swiss National Bank's decision to keep its interest rates on hold stalled the Swiss franc's overnight advance.
Gold has climbed this week on a weaker dollar.
"Gold prices have been able to rally recently in large part because the U.S. Federal Reserve and European Central Bank softened their anti-inflation rhetoric," HSBC said in a note.
"Thus reducing the prospect of imminent monetary policy tightening and allowing financial markets to re-evaluate the chances of a U.S. rate rise."
Platinum underpinned
Gold hit a record of $1,030.80 on March 17 before a broad sell-off in commodities dragged down prices.
Oil steadied on Thursday, supported by a further production outage in Nigeria and as a top U.S. investment bank raised its oil price forecast. U.S. crude was down 1.07 cents to $135.61 a barrel.
Platinum was off intraday highs but underpinned by supply worries after South Africa's power regulator approved an additional 13.3 percent tariff rise for state-owned power firm Eskom on Wednesday."Platinum we think has the strongest fundamentals within the precious metals complex, especially now as we've entered peak demand period for power in South Africa," said Suki Cooper, analyst at Barclays Capital.
"Power problems in South Africa haven't been resolved and that will keep the market on tenterhooks."
Spot platinum was down at $2,048.50/2,068.50 an ounce from $2,080.50/2,100.50 on Wednesday. It rallied to $2,103.50 an ounce on Wednesday, its highest since May 28.
A power shortage in South Africa, the world's top producer of the metal used in autocatalytic converters, sparked worries about a supply deficit and propelled prices to an all time high of $2,290 in early March.
Spot palladium fell to $462.50/470.00 an ounce from $466.00/474.00 on Wednesday. Silver gained to $17.23/17.30 an ounce from $17.05/17.13.
Northeastern University in Boston says the action was taken after some protesters resorted to virulent anti-Semitic slurs
world4 hours ago
The church has been built on 4.37 acres of land, and stands opposite the BAPS Hindu temple
uae4 hours ago
A detailed guide on where to apply, the steps involved, and criteria for eligibility
uae5 hours ago
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
mena5 hours ago
Photonics is the study of light and has several applications including LED, VR, holograms, high-speed internet and solar panels among other things
uae5 hours ago
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
mena5 hours ago
The decision aims to protect the safety and security of pilgrims
gulf6 hours ago
They have been carrying out rescue operations for the last four years, drawing on their extensive experience in saving people from desert terrain
uae7 hours ago