The London Bullion Market Association (LBMA) said Societe Generale had resigned as a market maker for gold and silver, as France's third-largest bank pushes ahead with a downsizing of its commodities business.
SocGen said this month it would cut 1,600 jobs to boost profits after poor performance last year and will exit over-the-counter commodities trading. SocGen declined to comment.
In over-the-counter trading deals are done bilaterally between banks and brokers rather than on a financial exchange. London is the...Read more
Gold edged up on Tuesday as Asian shares fell ahead of the release of a raft of economic data and the U.S. Federal Reserve’s two-day meeting which will decide the trajectory of interest rates.
* Spot gold was up 0.2 percent at $1,281.95 per ounce at 0123 GMT.
* U.S. gold futures were up 0.2 percent at $1,283.90 an ounce.
* Shares in Asia fell on Tuesday morning despite another record high close for the S&P 500, as investors look to a U.S. Federal...Read more
GOLD PRICES rallied to 2-week highs for UK and Euro investors in London on Thursday, but held only in line with last week's US Dollar close as oil prices rose and world stock markets struggled.
With major government bond yields edging higher, silver prices also rose but failed to reclaim last week's finish in Dollar terms, reaching $14.92 per ounce as gold traded above $1277.
European equities meantime held flat overall after US stock markets edged back overnight from Tuesday's fresh all-time record highs on the S...Read more
* SPDR gold holdings fall to six-month lowRead more
* Asian shares fall, European markets splutter
* Gold to find support at $1,264, resistance at $1,284 (Updates prices) By Sethuraman N R April 24 (Reuters) - Gold prices edged up from the previous session's four-month low as a dollar rally relented and equities softened on Wednesday. Spot gold was up 0.1 percent at $1,273 an ounce by 1248 GMT after hitting its lowest since the end of last year at $1,265.90 in the previous session. U.S. gold futures also gained 0.1 percent, rising to $1,274.70 an ounce. "The recent weakness in gold has...
Gold steadied around a 4-month trough on Wednesday, after falling nearly 1 percent in the previous session due to a surge in global equities, while a stronger dollar piled pressure on the metal.
* Spot gold was down 0.1 percent at $1,286.38 per ounce, as of 0104 GMT. In the previous session, the metal sank to $1,272.70, its lowest since Dec. 27.
* U.S. gold futures edged up 0.1 percent to $1,278.10 an ounce.
* Stocks around the globe rose on Tuesday...Read more