Gold sees worst week since '13 on renewed rate fears
New York
GOLD had the biggest weekly loss in more than three years as investors judged that a weaker-than-expected US payrolls report won't be enough to sidetrack the Federal Reserve from raising interest rates this year.
Cleveland Fed president Loretta Mester said on Friday that there's a "strong, compelling case" to raise interest rates. Ms Mester spoke after a Labor Department report on Friday showing slower but still-steady job gains in the US in September. Higher interest rates curb the appeal of gold, which doesn't pay interest.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
US: Wall St opens lower as Meta Platforms, economic data weigh
Sheng Siong Q1 net profit up 9.3% on higher revenue