Gold loses value as Fed foretells interest rate hike next month

News Image

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

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.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 180,104.61
388.90M
-0.11%
-206.60
ALLSHR 108,838.05
888.10M
-0.14%
-150.10
KSE30 53,603.57
82.09M
-0.20%
-109.40
KMI30 252,988.26
112.53M
-0.14%
-356.16
KMIALLSHR 69,789.36
622.55M
0.02%
11.95
BKTi 51,939.19
21.86M
-0.35%
-181.79
OGTi 35,691.88
10.10M
0.01%
3.44
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 63,125.00 63,340.00
62,700.00
150.00
0.24%
BRENT CRUDE 88.63 88.97
88.01
0.11
0.12%
RICHARDS BAY COAL MONTHLY 110.00 0.00
0.00
-0.45
-0.41%
ROTTERDAM COAL MONTHLY 122.30 0.00
0.00
0.40
0.33%
USD RBD PALM OLEIN 1,175.00 1,175.00
1,175.00
0.00
0.00%
CRUDE OIL - WTI 82.30 82.73
81.72
-0.10
-0.12%
SUGAR #11 WORLD 16.60 0.00
0.00
0.00
0.00%

Chart of the Day


Latest News
August 17, 2026 at 06:30 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


August 16, 2026 at 04:59 PM GMT+05:00

Finance Minister conferred Nishan-i-Imtiaz


August 16, 2026 at 04:53 PM GMT+05:00

Imdad Ullah Bosal conferred Hilal-i-Imtiaz


August 15, 2026 at 01:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg