Gold price stable as global stocks retreat from record highs
New York (April 29) Gold spiked on Friday as forecast-beating euro zone inflation aided the euro against the dollar, while the global bourses retreated from record highs touched in Wednesday’s session, over concerns about global trade.
The euro surged towards five & half month high as the data was visibly keeping pressure on the ECB to start dialing back stimulus measures as early as June.
Spot Gold was up 0.29% to $ 1267.39. Spot Gold was lower by 1.4% from last Friday’s level.
U.S. Gold futures for June delivery were up $2.40 to $1,268.30.
Holdings of SPDR Gold shares slipped 0.1% to 853.36 tonnes on Thursday. Holdings slipped by over 6 tons since Tuesday.
Silver spiked 0.16% at $17.25 per ounce, while platinum soared 0.18% to $941.70.
Source: HFL