Gold Prices Post Drastic FallSource: www.export-egypt.com 11/30/2014, Location: Middle East |
|
|
|
|
|
Gold prices significantly dropped by 2.6 percent, reaching USD 1,167 per ounce at trades' closing the past week.
SABAYIKS Gold Kuwait company said in a report issued on Sunday that bearish oil prices and rise of US dollar rates heavily affected gold prices, following stability in the range of USD 1,200 per ounce, in the past weeks.
OPEC's fresh decision to abstain from slashing oil output to try push the crude prices up resulted in heavier pressure by the greenback on the gold prices, contrary to forecasts that the yellow metal price would reached up to 1,240 per ounce.
The yellow metal, now, appears less lucrative for investors, as compared to the USD and major European currencies.
The report forecast further pressure on the gold prices, in the foreseeable future, but there remains a possibility that the prices may turn bullish, anew, due to significant demand.
|
|
|
Financials and Investment News in Kuwait >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Kuwait Oil & Gas 1 >> 2 | 3 | 4 | 5 | |
