Gold pared some losses on Friday, after falling more than 1 per cent, as investors opted for the safety of the metal following reports the United States is considering delisting Chinese companies from US stock exchanges.[BENGALURU] Gold pared some losses on Friday, after falling more than 1 per cent, as investors opted for the safety of the metal following reports the United States is considering delisting Chinese companies from US stock exchanges.
"Central bank easing is being called into question as many Fed officials are saying that maybe we don't need as much ongoing stimulus in the market," said David Meger, director of metals trading at High Ridge Futures. "The US durable goods number also came better than expected and people are getting out of gold here just because that data does not support another rate cut," said Bob Haberkorn, senior market strategist at RJO Futures.
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Source: BusinessTimes - 🏆 15. / 51 Read more »