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On Thursday, gold sagged in holiday-thinned trade, although losses were capped by rumors that the major US bank might not tighten American policy as mawkishly as previously anticipated.
In New York gold futures slumped 0.2% being worth $1,290.13 a troy ounce. Trade volumes were believed to stay light on Thursday, with Comex floor trading unavailable for Thanksgiving. Another trading session was scheduled for Friday.
On Wednesday, the number one precious metal rallied 0.8% because the greenback dived to a four-week minimum after minutes from the Fed’s November gathering hinted that the major bank might not be as hawkish in lifting interest rates in 2018 as anticipated because of the sluggish inflation outlook.
It definitely raises the question of whether the key US financial institution will stick to three planned rate hikes next year or not.
As for other metals, silver futures went down 3% trading at $17.08 a troy ounce. Besides this, platinum decreased 0.4% being worth $936.55. Palladium decreased 0.3% trading at $998.62 an ounce. Copper futures inched down 0.4% hitting $3.127 a pound.
On Monday, gold was nearly intact having reported three-straight winning weeks, as market participants prepared for Friday’s reports on American third-quarter surge, while monetary policy decisions this week from the ECB and Bank of Canada are going to…
On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…
On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
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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