Gold dips in Asia as greenback slumps

Gold dips in Asia as greenback slumps

On Thursday, gold rallied in Asia because the evergreen buck trended weaker, while physical demand underpinned market sentiment.

December delivery gold futures grew 0.11% in New York trading at $1,280.39 a troy ounce.

The US dollar index inched down 0.07% being worth 93.46.

Overnight, the most popular precious metal was roughly intact because the evergreen buck was under pressure notwithstanding bullish economic data hinting at underlying strength in the American economy.

Meanwhile, bullish durable goods orders along with housing data didn’t manage to spark a recovery in the US currency, raising gold prices off trading session minimums because gold tried to snap a three-day losing marathon.

On Wednesday, the Commerce Department told that a closely watched proxy for business spending plans, non-defense capital goods orders without aircraft, tacked on 1.3% the previous month, thus confounding forecast of a 1% jump.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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

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