Gold futures
fell in American trade as the dollar index hit nine-month lows, following
earlier data from the US, the world's largest economy, and after global central
bank governors hinted at possible tightening of monetary policies in the next
period. Earlier US data included the final reading for Gross Domestic Product
in the first quarter showing growth at 1.4%, compared to 1.2% in the second
reading while final GDP prices rose 1.9% in the final reading down from 2.2%,
and finally unemployment claims rose past expectations last week. Yellen urged
those who helped overcome the crisis back then to work hard to prevent any
loosening of these reforms while asserting the Federal Reserve will continue
tightening its monetary policy gradually and trim down its holdings of treasury
bonds and mortgage-backed securities collected after the last crisis to
underpin the economy.
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