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

Thursday, 18 July 2019 13:24 WIB



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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