Gold eyes second straight weekly gain (Adds comments, updates prices)
May 14 (Reuters) - Gold rose on Friday, as the dollar pulled back from one-week highs after U.S. Federal Reserve officials downplayed an imminent rise in interest rates despite a sharp rise in inflation.
Spot gold gained 0.5% at $1,835.11 per ounce by 1158 GMT. U.S. gold futures rose 0.6% to $1,835.30.
The dollar index was down 0.3% against its rivals, making gold cheaper for other holders of other currencies.
“The Fed is not going to throw the economic recovery off course by raising rates,” StoneX analyst Rhona O’Connell said. “There’s too much risk involved to start either aggressive tapering or raising rates because there is not enough underlying strength in the economy.”
European Central Bank policymakers set the stage for a June 10 showdown over the future of their COVID-19 emergency bond purchases when they met in April but stopped short of discussing their next move, the account of their meeting showed on Friday.
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(Reuters) -Wall Street is expecting Canadian Pacific to raise its offer for Kansas City Southern even at the cost of more debt to win the bidding war with larger Canadian railroad rival Canadian National.
FILE PHOTO: A wagon of a freight train of the Kansas City Southern (KCS) Railway Company is pictured in Toluca, Mexico October 1, 2018. REUTERS/Edgard Garrido/File Photo
In the latest twist to the takeover saga, the U.S. railroad operator on Thursday accepted Canadian National’s $33.6 billion offer, leaving Canadian Pacific just five business days to make a new offer.
Analysts said Canadian Pacific was unlikely to let go a chance to be the first railway spanning the United States, Mexico and Canada easily even though it had said it would not leverage its books to outbid Canadian National.
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BUENOS AIRES (Reuters) -Argentine President Alberto Fernández said on Friday he wanted to reach a deal with the International Monetary Fund as quickly as possible after a meeting with IMF head Kristalina Georgieva, although he warned it must not hurt the country’s people.
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Fernandez, who met with Georgieva in Rome, is wrapping up a European tour during which he has been seeking support for his country in talks over a crucial new IMF deal and to delay debt repayments with the Paris Club group of lenders.
“The aim is to find an agreement as quickly as possible, but we cannot think of an agreement that requires greater efforts from the Argentine people,” Fernández said after the meeting.
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BUENOS AIRES (Reuters) -Argentine President Alberto Fernández said on Friday he wanted to reach a deal with the International Monetary Fund as quickly as possible as he wrapped up a positive European tour that has helped buoy the South American country’s depressed bond prices.
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In a meeting with IMF head Kristalina Georgieva, Fernandez did warn that any new deal must not hurt Argentina’s people, who have grappled with recession since 2018 and poverty levels that climbed to 42% at the end of last year.
Fernandez, who met with Georgieva in Rome, is finishing a European tour during which he has been seeking support for his country in talks over a crucial new IMF deal and to delay debt repayments with the Paris Club group of lenders.