The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment2 hours ago
Gold prices rose on Wednesday, helped by a weaker dollar ahead of the release of minutes from the latest US Federal Reserve meeting that could hint at the pace of future interest rate rises.
The minutes, to be published at 1900 GMT, come after outgoing Fed chair Janet Yellen said rates should rise gradually but warned she was "very uncertain" that inflation would soon rebound, suggesting a cautious approach to rate increases.
Spot gold was up 0.2 per cent at $1,283.51 an ounce at 1034 GMT, while US gold futures for December delivery were 0.1 per cent higher at $1,283.40 an ounce.
Gold has benefited from a flattening in the US Treasury yield curve that has supported the Japanese yen and pushed the dollar lower, Saxo Bank analyst Ole Hansen said.
The US yield curve hit the lowest in a decade on Tuesday on expectations that the Fed will raise rates and the government will increase debt issuance in short- and intermediate-dated maturities while delaying big increases at longer dates.
"Gold has been stuck in a range with an average price of $1,280 since early October but we are seeing some higher lows and higher highs, which indicates there is underlying support for the market," Hansen said.
Investors were keen to own gold to hedge against risks including a fall in global stock markets from current record highs, he said, predicting gold would rise to $1,325 by the end of the year.
Bets on higher gold prices by money managers increased last week for the first time since early September.
However, rising US interest rates through next year were likely to strengthen the dollar and put pressure on gold, said Julius Baer analyst Carsten Menke. - Reuters
The paths of these two stars have intersected on several occasions due to their association with the luxury brand Bulgari
entertainment2 hours ago
The students' demands range from a ceasefire in Israel's war with Hamas to calls for universities to stop investing in Israeli enterprises
world2 hours ago
Despite Kohli's flowing form ahead of the T20 World Cup in June, pundits have raised concerns over his strike-rate
cricket2 hours ago
Saudi Arabia has begun to explore extracting lithium from sea water
business3 hours ago
Speaking after meeting Lebanese leaders, French foreign minister says there had been "a lot of progress" over the French proposals
mena3 hours ago
The three-shot winner from Japan says he is aiming to become a member of the PGA Tour in the future
sports3 hours ago
Big-hitting Nienaber falters at the finish to settle for secondwhile former Abu Dhabi resident David Horsey takes the third spot at Saadiyat Beach Golf Club
sports3 hours ago
The UAE is India's second-largest export destination after the US
economy3 hours ago