** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

Gold down in technical correction

28 June 2014

Xinhua, Chicago :
Gold futures on the COMEX division of the New York Mercantile Exchange fell Thursday in technical correction, putting an end to a six- session winning streak.
The most active gold contract for August delivery fell 5.6 U.S. dollars, or 0.42 percent, to settle at 1,317 dollars per ounce.
Gold dropped Thursday although all factors pointed to supporting gold: tensions in Iraq remained and Chinese authorities reportedly uncovered a 15-billion-dollar gold financing scheme that began two years ago.
U.S. economic data released Thursday were weak, also supportive of gold. U.S. Department of Commerce said Thursday that U.S. consumer spending climbed only 0.2 percent in May, well below market expectations.
Gold briefly pared its decline shortly after St. Louis Fed President James Bullard Thursday indicated his belief that inflation should rise above 2 percent in 2015. His remarks came after U.S. Department of Commerce said in a report that the personal consumption expenditure index, the Federal Reserve's favored measure of inflation, rose 0.2 percent in May, the highest 12-month rate since October 2012.
As inflation is building up, market analysts took gold's fall Thursday as a temporary one as gold is often seen as a hedge against inflation.
Silver for July delivery lost 0.8 cents, or 0.04 percent, to close at 21.108 dollars per ounce. Platinum for October delivery slipped 3 dollars, or 0.2 percent, to close at 1,471.3 dollars per ounce.

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