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| Bullion Tips |
Bullion Tips : Early on Friday, Gold hold
on to near its lowest level since March 2010 and was set to end the
week posting its extensive loss in nine months, pressured by
predictions of further losses as the Federal Reserve moves closer to
raising interest rates. A drizzle in U.S. weekly jobless claims to
the lowest in more than four decades strengthened estimations of a
U.S. interest rate increase later in the year.
Spot gold was flat at $1,090.25 an ounce by 0042
GMT. On Thursday, Having tripped to a fresh five-year low of
$1,086.61 gold has lost almost 4 % for the week so far, its steepest
since October 2014.Bullion's rout deepened this week after sliding
3.3% on Monday, the most since September 2013, in a sell-off
accompanied by huge trading volumes in New York and Shanghai.
As the global bullion market continues to reel
from Monday's dramatic price tumble, Hong Kong to New York traders
are indicating the finger at others for being behind the move while
struggling to unmask the mystery sellers.
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