Gold tacks on as investors eye trade deal progress
On Friday, gold surged finding itself on track for a 0…
Gold adds as greenback dives on Powell
On Wednesday, the yellow metal faced its greatest one-day profit for more than a month, with Act One of the Federal Reserve and Act Two expected to be uncovered tomorrow.
On the Comex exchange February delivery gold futures rallied by $9.90 concluding at $1,229.80 per troy ounce.
Fed Chief Jerome Powell’s statement provided Wall Street with the tonic required for a mid-week bump. As Powell told, the major bank’s gradual tempo of lifting interest rates has been just an exercise in balancing risks. However, he stressed that there’s no preset policy path. It sent a dovish signal on the evergreen buck that the Fed will do the much-anticipated fourth rate lift in December, then hold off for next year based on how well the American economy is.
Apart from its chairman's speech, the Federal Reserve will also uncover the minutes of its November policy gathering, another diary item, which will be parsed cautiously for language indicative of rate lifts next year.
The USD index, declined by 0.6% following Powell’s statement. Notwithstanding the Dow's’s consequent leap, the evergreen buck’s dive was enough for the yellow metal to rebound 0.8%.
Volatility across financial markets has accelerated ahead of the G20 on rumors whether American leader and his Chinese rival Xi Jinping will be able to come to an agreement to end more than six months of bitter trade clash.
US leader told that he would reject China’s request to hold off plans to raise levies to 25% on some $200 billion of China’s exports from January 1.
Meanwhile, Larry Kudlow, Trump’s key economic adviser has sent out a bunch of confusing smoke signals on whether a pact was real, telling that Chin and America were communicating at all levels, although Xi still require stepping up and coming up with fresh ideas.
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
