Gold loses value as Fed foretells interest rate hike next month

MG News | November 30, 2018 at 02:00 PM GMT+05:00

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November 30, 2018 (MLN): Gold’s value deterred slightly on Friday following dollar’s recovery, along with minutes from the U.S. Federal Reserve's recent meeting according to which an interest rate hike was imminent in December.

Spot gold rose 0.2 percent to $1,223.75 per ounce, having earlier hit its highest since Nov. 22 at $1,228.96, whereas U.S. gold futures settled up barely changed at $1,224.10.

On the contrary, Oil prices packed down on Friday on expectations that OPEC and Russia will agree some form of production cuts next week, although swelling U.S. supplies kept markets in check, said a report by CNBC.

International Brent crude oil futures were at $59.81 per barrel at 0347 GMT, up 30 cents, or 0.5 percent, from their last close, whereas U.S. West Texas Intermediate (WTI) crude futures were up 20 cents, or 0.4 percent, at $51.65 per barrel.

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Name	Price/Vol	%Chg/NChg
KSE100	176,966.69 443.75M	-0.11% -199.84
ALLSHR	107,599.76 930.31M	-0.04% -41.89
KSE30	52,644.53 124.88M	-0.05% -26.27
KMI30	251,515.82 172.78M	0.02% 55.29
KMIALLSHR	69,526.04 742.43M	0.16% 112.66
BKTi	49,762.20 16.68M	-0.45% -222.60
OGTi	36,831.30 31.09M	1.12% 408.26

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	81,110.00	81,140.00 78,710.00	2260.00 2.87%
BRENT CRUDE	92.73	92.90 91.72	0.56 0.61%
RICHARDS BAY COAL MONTHLY	110.30	0.00 0.00	-0.20 -0.18%
ROTTERDAM COAL MONTHLY	124.55	124.55 124.55	0.00 0.00%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	85.69	85.84 84.73	0.68 0.80%
SUGAR #11 WORLD	17.66	17.69 17.08	0.05 0.28%