Gold steadied on Friday but largely kept losses made a day earlier when the metal suffered its biggest slide in five months after U.S. interest rates were raised for the first time in nearly a decade and the dollar surged.
In a much anticipated move, the Federal Reserve raised the range of its benchmark interest rate by a quarter of a percentage point on Wednesday, sending the dollar higher but hurting non-interest-paying gold.
Spot gold ticked up 0.3 percent to $1,054.40 an ounce by 0327 GMT, following a 2 percent slide in the previous session, its biggest one day slide since July.
The metal is down nearly 2 percent for the week in its worst performance in six weeks.
“Continued strength in the dollar is weighing upon precious metals following the Federal Reserve’s rate announcement and we are likely to see recent low prints once again tested over the short term,” said MKS Group trader Sam Laughlin.
While trading, Rubicon Minerals Corp. (USA) (NYSEMKT:RBY) slumped -60.00% at the end of recent close. Its previous 52-week high was $-97.04, trading at a volume of 14.28. Shares have fallen -96.19% over the trailing 6 months. The stock is currently trading -84.42% below its SMA 50 and -94.80% below its SMA 200.
New Gold Inc. (USA) (NYSEMKT:NGD) closed at $2.25, down 0.45% from previous close and at a distance of -2.81% from 20-day simple moving average. Over the last 12 months, a return on equity of -28.10% was realized due to the financial situation and earnings per share reached a value of $-1.23. Earnings are projected to move up 4.24 percent for the coming five years.
Las Vegas Sands Corp. (NYSE:LVS) share price decreased in the last trading session with a previous 52-week high of $59.30. The stock traded at a volume of 5,549,042 shares at a price loss of -0.69%. The share price is now down -7.03% for the past three months. Latest closing price was -9.99% below its 50-day moving average and -16.41% below its 200-day moving average.