Gold declines amid Fed QE reduction concerns

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Source: Bloomberg
© Scanpix/FP
Gold futures lost for the third consecutive session as Chicago Fed President Evans implied that the U.S. central bank could scale back its monthly asset purchases in September since the labour market has improved. The yellow metal for December settlement fell 0.5% to $1,276.60 per ounce as of 7:22 a.m. on the Comex in New York.
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Wed, 07 Aug 2013 19:04:15 GMT

Pound at six-week high after BoE inflation report

British Pound advanced after the Bank of England released its inflation report. The Pound added 1% to $1.5501 against the greenback. The currency's gain had been boosted by Mark Carney' statement that QE will continue as long as unemployment is above 7%. The BoE will tolerate five basis points above the 2% inflation target.

Wed, 07 Aug 2013 14:45:07 GMT

Emerging equities at 4-week low as earnings below estimates

Emerging-market equities dropped to a four-week low as earnings from AngloGold, one of the world's largest producers of gold, and TPK Holding, a touch screen supplier of Apple, missed estimates. The MSCI Emerging markets gauge fell 1% to 937.28 as of 1:25 p.m. London time, headed for the lowest point since July 10.

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