Gold climbs up marginally in Asia on Fed views

Gold climbs up marginally in Asia on Fed views

On Tuesday, gold gained marginally in Asia on overnight revenues in the greenback, although differing views by Fed policy makers on interest rates generated caution.

In New York, August delivery gold futures added 0.01%, being worth $1,246.87 a troy ounce.

The dollar index managed to gain after new inflation views from a Fed policymaker.

Overnight, the greenback along with American Treasury yields managed to surge, following comments from New York Fed President William Dudley who expects inflation to soar faster, enabling the major US bank to proceed with its tightening monetary policy. On the other hand, Chicago Fed President Charles Evans stressed that the Fed requires moving slowly to lift rates and also trim its portfolio because of soft inflation.

Overnight, gold dropped, suppressed by an uptick in the greenback after positive comments on inflation from the head of the New York Federal Reserve powered hopes for a rate lift in 2017.


The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

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FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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