Gold prices rise from one-week lows

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MG News | October 18, 2017 at 02:14 PM GMT+05:00

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Gold prices rose on Wednesday from the one week low after President Donald Trump hinted that he might pick a hawkish candidate for the Fed Reserve Chair.

Spot gold was up 0.1 percent at $1,286.11 an ounce at 0350 GMT. It hit a one-week low of $1,281.31 in the previous session.

U.S. gold futures for December delivery rose 0.2 percent at $1,288.20 per ounce.

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Equities in the Asian markets consolidated gains on Wednesday as the Asian markets waited Xi’s announcements on the China’s new five year plan.

The dollar was steady against a basket of currencies with investors weighing the possibility that Trump will choose a more hawkish Federal Reserve chief than current chair Janet Yellen.

Trump has a pool of five candidates to choose from for the next Fed chair and is likely to announce his choice before going to Asia in early November.

In other precious metals, silver rose 0.4 percent to $17.05 an ounce, after touching a one-week low in the previous session.

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Platinum rose 0.3 percent to $932.60 an ounce, while palladium was 0.5 percent higher at $983.00 an ounce.

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Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

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