Gold lower on global economic uncertainty

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Source: Reuters
© Scanpix/Reuters
On Friday, gold was traded lower, as the demand for the precious metal was undermined by a growing uncertainty over upcoming U.S. fiscal cliff and overall global economy. Spot prices for gold declined by 0.1% to trade at $1,713.19 per troy ounce at 7:50 a.m. London time. The commodity was likely to end the week with a 1% weekly loss.
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Fri, 16 Nov 2012 13:13:14 GMT

Rand Appreciated after Failing to Break through Resistance Level

The Rand appreciated for the first time this week as its biggest weekly decline in November didn't manage to break through the resistance level of 9 rand per dollar. South Africa's currency gained 0.3% against the Dollar on Friday and traded at 8.9043 per dollar in Johannesburg. The currency declined 2.2% this week, the biggest loss in six weeks.

Fri, 16 Nov 2012 17:40:55 GMT

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The Census and Statistics Department revealed on Friday that the Hong Kong's economy expanded at a faster pace but below the analyst forecast in Q3. Year over year, Hong Kong's GDP grew by 1.3%, which was faster than a 1.2% growth in the preceding quarter. Economists, however, expected a more significant increase of 1.7%.

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