{"id":1387,"date":"2013-04-19T22:12:25","date_gmt":"2013-04-19T18:12:25","guid":{"rendered":"http:\/\/www.dubaigoldprices.com\/?p=1387"},"modified":"2013-04-19T22:12:25","modified_gmt":"2013-04-19T18:12:25","slug":"gold-near-two-year-low-heads-for-fourth-week-of-decline","status":"publish","type":"post","link":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/2013\/04\/19\/gold-near-two-year-low-heads-for-fourth-week-of-decline\/","title":{"rendered":"Gold near two-year low; heads for fourth week of decline"},"content":{"rendered":"

\"Gold<\/a><\/p>\n

Gold was little changed in cautious trade on Friday, heading for a fourth week of losses after this week’s historic sell-off shattered investors’ confidence in the typically safe-haven asset.<\/p>\n

Gold investors are waiting for the release of U.S. CFTC commitment of traders data at 1930 GMT for more trading cues after funds dumped their holdings on global exchange-traded funds.<\/p>\n

FUNDAMENTALS<\/p>\n

* Spot gold added $1.60 an ounce to $1,392.35 by 0022 GMT, still within sight of a 2-year trough touched earlier this week. The metal recorded its biggest ever daily fall in dollar terms on Monday, catching gold bulls, speculators and veteran investors by surprise.<\/p>\n

* U.S. gold futures were also little changed at $1,392.70 an ounce.<\/p>\n

* Premiums for gold bars in Hong Kong, Singapore and Tokyo were at multi-months highs after the drop in prices ignited a spate of buying in gold coins, nuggets and bars.<\/p>\n

* Investors in U.S.-based funds pulled $2.7 billion out of commodities and precious metals funds in the latest week as gold suffered a sharp selloff, data from the Thomson Reuters Lipper service showed.<\/p>\n

* The largest exchange-traded fund (ETF) for bullion saw less money outflows than during the 2009 selloff, according to funds tracker Lipper.<\/p>\n

* The euro zone will slow its budgetary belt-tightening to help reinvigorate economic growth, a top EU official said on Thursday, highlighting a policy shift the United States has long been pressing for.<\/p>\n

MARKET NEWS<\/p>\n

* Worries over global growth capped Asian share prices on Friday as more soft U.S. economic data and mixed U.S. earnings results further undermined investor sentiment already hit by a broad sell-off that started earlier in the week.<\/p>\n

* The euro and yen started Asian trade on Friday in familiar territory having steadied from wild swings in a week that took a heavy toll on commodity currencies such as the Australian dollar.<\/p>\n

* U.S. crude futures extended declines towards $86 a barrel on Thursday, hurt by a stronger dollar and lingering concerns over global demand for oil.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold was little changed in cautious trade on Friday, heading for a fourth week of losses after this week’s historic sell-off shattered investors’ confidence in the typically safe-haven asset. Gold investors are waiting for the release of U.S. CFTC commitment of traders data at 1930 GMT for more trading cues after funds dumped their holdings […]<\/p>\n","protected":false},"author":3,"featured_media":1388,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[440],"class_list":["post-1387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-prices","tag-gold-near-two-year-low-heads-for-fourth-week-of-decline"],"_links":{"self":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/1387","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/comments?post=1387"}],"version-history":[{"count":0,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/posts\/1387\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media\/1388"}],"wp:attachment":[{"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/media?parent=1387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/categories?post=1387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dxbgoldrate.com\/dubaigoldrates\/wp-json\/wp\/v2\/tags?post=1387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}