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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.
Gold has already lost out in a paradigm shift exactly where the number one precious commodity is no longer considered to be a traditional refuge when traders are in a risk-off mood…
On Monday, gold headed south because Turkey’s economic turmoil left financial markets puzzled…
On Friday, gold leapt because market participants rushed to safe-have assets…
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…
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