On Thursday, American leader Donald Trump unveiled that he generally disliked the Fed’s decision to have interest rates lifted, telling that he was concerned about their probable impact on the American economy as well as American competitiveness…
Gold dives in Asia on stronger greenback and poor China demand
On Tuesday, gold sank in Asia because overnight greenback revenues extended into the region, thus making the dollar-denominated commodity less affordable, and with dismal demand as China markets are unavailable for a week-long holiday.
December delivery gold futures lost 0.21% in New York trading at $1,273.15 a troy ounce.
In Asia, the dollar index went up 0.22% reaching 93.69.
Overnight, gold slid to seven week minimums amid a sag in safe-haven demand after manufacturing data topped hopes pushing yields as well as the US currency to session maximums.
This week the number one precious commodity contributed to losses from last week because market participants kept unwinding their bullish bets on gold after positive manufacturing reports pointed to underlying strength in the American economy.
Net bullish bets on gold went down to 212,600, as the Commodity Futures Trading Commission reported on Friday.
Inflation data is the most important indicator that affects the central bank’s monetary policy.
Although yesterday the US dollar index closed at the low level comparing to the daily movement, today it has been moving up again.
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…