{"id":55225,"date":"2013-05-31T10:51:58","date_gmt":"2013-05-31T10:51:58","guid":{"rendered":"https:\/\/armbanks.am\/2013\/05\/31\/238542\/"},"modified":"2024-12-15T13:04:58","modified_gmt":"2024-12-15T13:04:58","slug":"gold-above-1400-for-best-close-in-over-two-weeks-marketwatch","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2013\/05\/31\/55225\/","title":{"rendered":"Gold above $1,400 for best close in over two weeks: Marketwatch"},"content":{"rendered":"<p><strong>YEREVAN, May 31. \/ARKA\/.<\/strong> Gold futures on Thursday scored their highest settlement in more than two weeks as a weaker dollar, disappointing U.S. economic data and strong physical demand in Asia combined to lift prices above $1,400 an ounce.<\/p>\n<p>A rise in gold holdings in the SPDR Gold Trust GLD +1.39% , the largest U.S. gold-backed exchange-traded fund, was also a key supportive factor for the metal, analysts said.<\/p>\n<p>Gold for August delivery GCQ3 -0.19% rose $20.20, or 1.5%, to settle at $1,412 an ounce on the Comex division of the New York Mercantile Exchange. That was the highest close for a most-active contract since May 14, according to FactSet data. On Wednesday, prices settled higher by $12.10, or 0.9%.<\/p>\n<p>Weakness in the U.S. dollar DXY +0.37% , which lost significant ground against the euro EURUSD -0.52% , aided gold\u2019s climb on Wednesday.<\/p>\n<p>A fall in the greenback tends to provide support for dollar-denominated commodities such as gold, as it makes them less expensive for holders of other currencies to buy them.<\/p>\n<p>\u201cThe greenback fell sharply after the first quarter GDP, [weekly] unemployment claims and pending home sales all disappointed expectations,\u201d said Fawad Razaqzada, technical analyst at GFT Markets, in a daily note. \u201cThis helped to boost the appeal of gold and silver, which continue to attract solid demand in the physical market.\u201d<\/p>\n<p>July silver SIN3 -0.77% rose 24 cents, or 1.1%, to end at $22.69 an ounce. \u20130&#8211;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures on Thursday scored their highest settlement in more than two weeks as a weaker dollar, disappointing U.S. economic data and strong physical demand in Asia combined to lift prices above $1,400 an ounce<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,2816,12617,12855],"class_list":{"0":"post-55225","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-comex","10":"tag-gold","11":"tag-price"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/55225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=55225"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/55225\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=55225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=55225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=55225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}