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Gold Slips From Near 6-Year High; Silver Extends Rally


Thursday, 18 July 2019 13:24 WIB

GOLDEMASPerak


Gold slipped from near the highest level in six years as investors weighed the scale of expected interest rate cuts by the Federal Reserve this year. Silver rose to a five-month high.

With just two weeks until the Fed’s policy meeting, the central bank’s anecdotal Beige Book report suggested the outlook was generally positive and the labor market remains tight -- but companies are still struggling to pass on higher wages and tariff-related costs to customers. Expectations for a rate cut pushed gold to a six-year high last month with silver now finally playing catch up.

Spot gold -0.3% to $1,422.22/oz at 1:15pm in Singapore; earlier rose to $1,430.23, near last month’s six-year high of $1,439.21.

Source : Bloomberg


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