Archive · Business Recorder
Gold rises over 1% as investors digest Fed hike, oil rally stalls
Gold prices rose more than 1% on Thursday as investors digested the US Federal Reserve’s interest rate hike and its signal that further policy tightening may follow, while an earlier rally in oil prices lost momentum. Spot gold was up 1.1% at $4,310.49 per ounce, as of 0149 GMT, after hitting a near six-week low on Wednesday. US gold futures for December delivery were down roughly 1% at $4,348.70. Oil prices fell, extending losses from the previous session, as reports of Saudi Arabia offering extra crude cargoes through Oman reduced fears of supply disruptions. “Oil prices remain a key fa...
ZAZTEK archives the headline, summary and publication date so the story stays findable. The full article remains the publisher's. Read it at Business Recorder →