• 3Sports
  • Home
  • MG Radio
3news
Advertisement
  • Home
  • News
  • Politics
  • Business
  • World
  • Showbiz
  • 3Sports
  • Lifestyle
  • Tilapia
  • MORE
    • Education
    • Features
    • Tech
    • Health
    • GMB
    • Mentor
    • Coronavirus
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • World
  • Showbiz
  • 3Sports
  • Lifestyle
  • Tilapia
  • MORE
    • Education
    • Features
    • Tech
    • Health
    • GMB
    • Mentor
    • Coronavirus
No Result
View All Result
3news
No Result
View All Result
Home Business

Gold hits six-month high

December 26, 2018

Gold rose to its highest in six months on Wednesday as worries over U.S. political uncertainty, aggravated by a partial government shutdown, and slowing global economic growth drove investors towards the safe-haven metal.

Spot gold climbed 0.3 percent to $1,272 per ounce as at 1212 GMT.

It touched $1,274.68 in early trade, its highest since June 20. U.S. gold futures, meanwhile, were up 0.3 percent at $1,275.20 per ounce.

“There is some safe haven buying at this point in time because of the partial (U.S. government) shutdown. The dollar against the Japanese yen and Swiss franc has lost quite a bit of value,” said Afshin Nabavi, Senior Vice President, MKS SA.

RelatedPosts

E/R: Man, 33, killed after struggle over gold

January 4, 2021

Gold prices drop as the dollar gains traction

December 24, 2020

Gold prices likely to move up in 2021; stay invested for now, say analysts

December 17, 2020

Investors were unnerved by the partial U.S. federal government shutdown and President Donald Trump’s hostile stance towards the Federal Reserve chairman.

The U.S. Senate has been unable to break a deadlock over Trump’s demand for more funds for a wall on the border with Mexico, and a senior official said the shutdown could continue until Jan. 3.

With geopolitical uncertainty, investor interest in gold could push prices up to as much as $1,280-$1,300 in the coming year, Nabavi said.

Spot gold is up about 4.1 percent for the month thus far, putting it on track to register its best December in about 10 years.

Interest in gold, which is seen as a hedge against political and economic worries, has reflected in holdings of SPDR Gold, the largest gold exchange-traded fund. SPDR holdings are at their highest point since August and have risen about 6 percent since touching more than 2-1/2-year lows in October.

Gold prices are testing the key resistance at $1,274.60, and breaching this level will push the price towards $1,286.70 on the near term basis, Mumbai-based Kedia Commodities said in a research note.

Markets in Britain, Germany and France remained closed on Wednesday for the Boxing Day holiday.

Among other metals, silver gained 0.6 percent to $14.82 per ounce, while platinum was up 1.6 percent at $795.20. Palladium was up 0.7 percent to $1,255.24 per ounce.

Source: Reuters

Previous Post

I am grateful for your endorsements —Sly Mensah to Upper West Region

Next Post

NCCE urges voters to massively participate in Thursday’s referendum

Related Posts

News

E/R: Man, 33, killed after struggle over gold

January 4, 2021
Business

Gold prices drop as the dollar gains traction

December 24, 2020
Business

Gold prices likely to move up in 2021; stay invested for now, say analysts

December 17, 2020
Business

Gold sees modest price rebound from overnight weakness

December 7, 2020
Business

Gold, cocoa push Ghana’s exports to $15.6bn in 2019 – BoG

October 5, 2020
News

Man dies after mining pit collapsed on workers

May 2, 2020
Next Post

NCCE urges voters to massively participate in Thursday's referendum

Discussion about this post

Stay Connected

  • 1.7M Fans
  • Trending
  • Comments
  • Latest
20-year-old girl murdered at Doryumu

20-year-old girl murdered at Doryumu

January 12, 2021

Election Petition: EC admits possible errors in collation of presidential results

January 11, 2021

NDC heads to Supreme Court over the declaration of NPP & Fomena MP as majority in Parl.

January 18, 2021
Chief Justice responds to Muntaka’s bribery allegation against a Justice of the Supreme Court

Chief Justice responds to Muntaka’s bribery allegation against a Justice of the Supreme Court

January 14, 2021

Ofori-Atta re-nominated as Finance Minister-designate

January 21, 2021
Akufo-Addo drops Joe Ghartey, Gloria Akuffo from his list of ministers

Akufo-Addo drops Joe Ghartey, Gloria Akuffo from his list of ministers

January 21, 2021
Oppong Nkrumah thanks Akufo-Addo for confidence reposed in him

Oppong Nkrumah thanks Akufo-Addo for confidence reposed in him

January 21, 2021
Kudjoe Fianoo retained as GHALCA Chairman

Kudjoe Fianoo retained as GHALCA Chairman

January 21, 2021

Recent News

Ofori-Atta re-nominated as Finance Minister-designate

January 21, 2021
Akufo-Addo drops Joe Ghartey, Gloria Akuffo from his list of ministers

Akufo-Addo drops Joe Ghartey, Gloria Akuffo from his list of ministers

January 21, 2021
Oppong Nkrumah thanks Akufo-Addo for confidence reposed in him

Oppong Nkrumah thanks Akufo-Addo for confidence reposed in him

January 21, 2021
Kudjoe Fianoo retained as GHALCA Chairman

Kudjoe Fianoo retained as GHALCA Chairman

January 21, 2021
3news

3news.com is the fastest growing news portal in Ghana. Get all breaking news updates, latest news headlines, local and world stories, showbiz, lifestyle etc.

Follow Us

Browse by Category

Recent News

Ofori-Atta re-nominated as Finance Minister-designate

January 21, 2021
Akufo-Addo drops Joe Ghartey, Gloria Akuffo from his list of ministers

Akufo-Addo drops Joe Ghartey, Gloria Akuffo from his list of ministers

January 21, 2021
  • 3Sports
  • Home
  • MG Radio

© 2021 Media General - Developed and managed by MG Digital.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • World
  • Showbiz
  • 3Sports
  • Lifestyle
  • Tilapia
  • MORE
    • Education
    • Features
    • Tech
    • Health
    • GMB
    • Mentor
    • Coronavirus

© 2021 Media General - Developed and managed by MG Digital.