Residents with any information have been urged to contact the concerned authority
emergencies9 hours ago
Gold gained on Friday as an escalation in US-China tensions underpinned bullion's safe-haven appeal, although positive economic indicators after some countries eased lockdowns set up the precious metal for a weekly drop.
Spot gold was up 0.2 per cent at $1,727.75 per ounce by 0524 GMT, having dropped 1.4 per cent on Thursday. US gold futures rose 0.4 per cent to $1,729.40. Bullion had rallied to its highest since October 2012 on Monday, but has since lost ground and is now heading for a 0.7 per cent weekly decline.
"The fundamentals are still supportive for gold. But, there was a slight improvement in the manufacturing activity in Europe and the US, the PMI data last night was slightly better," said Avtar Sandu, a senior commodities manager at Phillip Futures.
The euro zone economy's contraction eased in May, the Purchasing Manager Index (PMI) survey showed. Germany's private sector recession also improved on loosening of lockdown curbs put in place to prevent the virus spread.
However, US-China frictions dampened risk appetite, underpinning bullion and offsetting pressure on the metal's prices from the slightly better data.
Asian shares fell after Beijing's plan to impose a new national security legislation on Hong Kong drew a warning from US President Donald Trump.
Gold has held ground above the key $1,700 per ounce level, building impetus to reach its 2011 peak in the coming quarters, Fitch Solutions said in a note.
The lower-for-longer interest rates with quantitative easing in full swing, macro and geopolitical uncertainty and strong investor flows should continue to support gold prices on a 6-12 month horizon, Fitch added.
Palladium gained 0.1per cent to $2,015.76 per ounce, and was looking to post its best week since end-March. Platinum fell 0.6per cent to $827.83 and silver slid 1.4 per cent to $16.82. - Reuters
Residents with any information have been urged to contact the concerned authority
emergencies9 hours ago
Northeastern University in Boston says the action was taken after some protesters resorted to virulent anti-Semitic slurs
world10 hours ago
The church has been built on 4.37 acres of land, and stands opposite the BAPS Hindu temple
uae10 hours ago
A detailed guide on where to apply, the steps involved, and criteria for eligibility
uae10 hours ago
The Emirates called for strengthening the international humanitarian response and providing urgent relief to those in need
mena10 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
uae11 hours ago
A delegation from Egypt arrived in Israel on Friday hoping to revive the truce negotiations
mena11 hours ago
The decision aims to protect the safety and security of pilgrims
gulf11 hours ago