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Gold slips to 1-year low

22 Juillet 2018

"His takeaway was the job market is strong, inflation is going to stay near 2 percent".

MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.17 percent and touched its highest point in a month.

In Tokyo, the Nikkei 225 rose 0.94 percent, adding to three prior consecutive sessions of gains and leading gains in the region.

Chinese shares extended losses after dropping the previous day on soft economic data.

Australian stocks fell 0.5 percent and South Korea's KOSPI was flat. Exporters rose as the yen remained weak, with automakers tacking on 1.45 percent.

"Crude has been rising steadily so some kind of adjustment was due".

"We can't afford to put our heads in the sand and ignore the impact of the president's policies on our economy", Heitkamp said.

The benchmark six-month forward premium payable in November edged lower to 106.50-108.50 paise from 108.75-110.75 paise and the far-forward May 2019 contract also eased to 253.25-255.25 paise from 255.25-257.25 paise on Monday. The comments came as China reported slower second quarter growth, though Beijing said that would not affect its 2018 growth target.

Falling oil prices weighed on the energy sector, with Oil Search ending down as much as 2.2 percent.

The dollar gained 0.43 percent against sterling as the United Kingdom currency was dragged to 10-month lows on weak inflation data and uncertainty over Britain's plans to leave the European Union.

Overseas, in Japan, markets climbed 0.4%, while in Hong Kong, the Hang Seng index faltered 0.2%.

Federal Reserve Chairman Jerome Powell gave lawmakers an upbeat assessment of the economy and expects to keep raising interest rates gradually.

Platinum lost 0.6 per cent to $807.50 an ounce, and hit a two-week low of $804.75 an ounce earlier in the session. "That is not what the administration says it is trying to achieve". USA gold futures for August delivery settled down $12.40, or 1 percent, at $1,227.30 per ounce.

The pan-European FTSEurofirst 300 index rose 0.60 percent, hitting a one-month high.

But he has also threatened a much broader net that would tax autos imported from any country and all of the half trillion dollars worth of goods bought from China.

The 10-year Treasury yield firmed this week but it has been on a steady decline from a seven-year high above 3% set in May.

Monday, the rupee had retreated from a near two-week high by ending 4 paise lower at 68.57 against the USA dollar.

Copper on the London Metal Exchange was up 1.1 percent at $6,255 a tonne amid low stockpiles.

The yellow metal slipped to its lowest since July past year at $1,220.41 an ounce earlier in the session.

Gold slips to 1-year low