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On Monday, gold dipped to the lowest value in four weeks in European trade because traders looked ahead to a busy week of Fed speakers for more signals on future monetary policy moves.
In New York, gold futures hit $1,253.74 a troy ounce, sliding 0.2%. Overnight the number one precious metal dipped to $1,252.20, which is the lowest value since May 24.
Besides this, silver futures lost approximately 0.3%, reaching $16.60 a troy ounce, having reached its lowest value since May 19 at $16.58.
The previous week, the Fed increased interest rates as expected and also maintained ambitious plans to go ahead with another rate lift by year-end. Additionally, the US major bank also provided more details as for how it intends to reduce its huge $4.5 trillion balance sheet.
Notwithstanding the Fed's quite hawkish message, investors remained doubtful as for the major bank's ability to lift rates as much as it would like before the end of 2017 because of a recent run of dismal American economic data.
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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