Gold tacks on as investors eye trade deal progress
On Friday, gold surged finding itself on track for a 0…
Copper declines as Indonesia's Grasberg mine resumes output
On Tuesday, copper prices tumbled in Asia, as a strike at a major Indonesian mine has ended.
Reuters informed that Freeport McMoRan's Indonesian unit has already resumed its copper production at its Grasberg mine. Currently, traders are paying attention to a weeks-long strike in Chile at the Escondida copper mine owned by Australia's BHP Billiton.
In New York, May delivery copper futures dipped 1.02%, trading at $2.628 a pound on the news.
Additionally, April delivery gold futures sagged 0.46%, trading at $1,228,35 a troy ounce.
Overnight, gold dipped, backed by a tumble in the greenback, which is on track for the fourth session of drops, after G20 financial leaders didn’t manage to make a case for open and free global trade. Besides this, more dovish than expected Fed comments as for rate lifts kept backing the number one precious metal.
By the way, a tumble in the greenback also backed gold, as this commodity is dollar denominated.
Similar
Gold reports its biggest daily tumble for 6 months
On Thursday, gold faced its most impressive daily dive for six months right after it had been reported that China and America were demonstrating huge progress in resolving their long lasting trade conflict…
Gold is nearly intact ahead of Fed minutes
On Wednesday, gold was nearly intact in Asia due to the fact that traders waited for the minutes of the US major bank’s January meeting…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
