Gold eases on outlook for US rate hikes

10 January 2018 | Business

Gold prices inched down yesterday amid expectations for more US interest rate hikes this year. Spot gold was down 0.2% at US$1 317.86 an ounce by 0655 GMT. Last week, prices touched their strongest since Sept. 15 at US$1 325.86. Atlanta Fed President Raphael Bostic, who is a voting member of the US central bank's policy board, said on Monday that two hikes might be needed in 2018, in light of weak price pressures. Gold is highly sensitive to rising US interest rates, as these increase the opportunity cost of holding non yielding bullion, while boosting the greenback, in which it is priced. Photo Nampa/Reuters

Similar News

 

Gem of a quarter for Namdeb

3 hours ago | Business

Jo-Maré Duddy – Namdeb Holdings produced more than half a million carats in the first three months of 2018, the first time in 16 quarters...

Give women a chance in mining - Namene

3 hours ago | Business

NDAMA NAKASHOLEThe Electricity Control Board CEO, Foibe Namene, has urged men in mining to be mindful of women’s disadvantaged position in the industry, with a...

Shining first quarter for Namdeb

16 hours ago | Business

Namdeb Holdings produced 528 000 carats of diamonds in the first three months of 2018, according to De Beers’ latest production report released this morning.This...

Company news

1 day - 24 April 2018 | Business

Caledonia plans Zimbabwe expansionCaledonia Mining plans to buy gold assets in Zimbabwe and increase its stake in the Blanket mine after the removal of the...

Bank admits it made R420bn transfer error

2 days ago - 23 April 2018 | Business

Germany's biggest lender Deutsche Bank on Friday admitted to a massive erroneous transfer of €28billion (about R420billion) in a routine operation, more than the entire...

Regulatory board set to name and shame auditors

2 days ago - 23 April 2018 | Business

The Independent Regulatory Board for Auditors (Irba) will stop hiding the names of auditors and auditing companies found guilty of contravening its professional standards, code...

Tax

2 days ago - 23 April 2018 | Business

If you own a building and use it for purposes of your trade, the Income Tax Act allows a capital deduction under section 17(1)(f). Using...

First Marine Spatial Plan

2 days ago - 23 April 2018 | Business

What human activities may take place where and when in Namibia's marine space? As this question has no simple answer, about 100 experts from various...

DeBeers to clean up Sierra Leone diamond supply chain

2 days ago - 23 April 2018 | Business

Global diamond giant De Beers is rolling out an app to help small-scale, artisanal diamond miners in Sierra Leone certify that gems they pry from...

Company news

2 days ago - 23 April 2018 | Business

SA’s Pick n Pay FY profit up South African retailer Pick n Pay Stores posted a 7.1% rise in full-year earnings on Thursday, as the...

Latest News

Neckartal gets lion's share of...

3 hours ago | Economics

About 46.4% of the N$2.137 billion agriculture budget is earmarked for the development of the water sector and for water supply to rural communities in...

Moussongela girls 'safe' in UK

3 hours ago | Justice

A London court has ruled that three daughters of accused sex offender Pedro Moussongela will remain in the United Kingdom and not be returned to...

Totem

3 hours ago | Economics

Quote of the dayI want to raise the spectre of the [tourism] industry doing more in tangible ways. – Keith Sproule, executive director: Abercrombie &...

Gem of a quarter for...

3 hours ago | Business

Jo-Maré Duddy – Namdeb Holdings produced more than half a million carats in the first three months of 2018, the first time in 16 quarters...

Give women a chance in...

3 hours ago | Business

NDAMA NAKASHOLEThe Electricity Control Board CEO, Foibe Namene, has urged men in mining to be mindful of women’s disadvantaged position in the industry, with a...

Site of horror to be...

3 hours ago | History

The largely forgotten German colonial concentration camp at Shark Island in Lüderitz may soon be declared a national heritage site. The National Heritage Council intends...

Tourism Networking Conference to precede...

3 hours ago | Events

Staff Reporter - The local and regional tourism community are all looking forward to the 20th edition of the ever-popular Namibia Tourism Expo which will...

NTTU regroups after strike

3 hours ago | Transport

At least 20 taxi owners retrieved their vehicles at a cost of N$1 000 each yesterday, after the vehicles were impounded on Monday when a...

Govt drags feet on N$6.4m...

3 hours ago | Justice

Finance minister Calle Schlettwein has been given until 12 June to explain the inactivity around a N$6.4 million lawsuit that sees his ministry suing TransWorld...

Load More