Gold ascends in Asia on views for 3rd Fed lift in 2017

Gold ascends in Asia on views for 3rd Fed lift in 2017

On Wednesday, gold added in Asia, with Fed views on rate lifts for the rest of 2017 in focus with some hopes that inflation isn’t sturdy enough for a third lift this year as forecast.

In New York, August delivery gold futures acquired 0.29%, trading at $1,247.13 a troy ounce.

Overnight, gold was still subdued due to the fact the greenback kept advancing amid strengthening expectations that the Fed would raise its interest rate by the year-end.

Gold futures kept trickling lower because an ascending number of traders actually expect the major US bank to increase interest rates by the end of 2017 in the wake of positive comments from Fed officials.

Quite bullish comments from Fed officials have shocked market participants because economic data has failed to demonstrate consistent American economic surge.

The number one precious metal has kept slipping from its recent peak, after the Fed raised rates last Wednesday, thus leaving the door open for an extra rate hike this year.

Similar

Latest news

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera