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On Wednesday, gold kept diving, extending losses into a third session. It’s because market participants looked ahead to minutes of the Fed’s latest policy gathering for further clues on the timing of the next American rate lift as well as clues on how the major financial institution intends to pare back its balance sheet.
The Fed’s going to publish minutes of its most recent policy gathering later in the day.
The key bank left interest rates intact following its gathering on July 26 and told it actually expected to start shrinking its huge holdings of bonds in the nearer future. Policymakers also told that weakness in American inflation more explicit than before.
Aside from that, market participants will monitor data on American housing starts as well as building permits in order to assess the overall strength of the world's number one economy and how it will influence the Fed's view on monetary policy.
In New York, gold futures slumped 0.3%, being worth $1,275.81 a troy.
On Wednesday, gold managed to leap reaching the best levels of the trading session because data disclosed that American consumer price surge speeded down in November…
On Friday, gold headed south…
On Tuesday, the yellow metal managed to surge in Asia…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
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…
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…
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