This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Gold edges up in Asia as North Korea gets another Trump’s warning
On Wednesday, gold rallied because political risk tacked on right after Donald Trump in a speech to the South Korean parliament dared to warn North Korea against making a "miscalculation" in development of its nuclear and missile weapons programs.
December delivery gold futures inched up 0.17% in New York being worth $1277.98 a troy ounce.
Overnight, the most popular precious commodity was pressured because safe-haven demand went down after worries relieved over political uncertainty in the Middle East. Meanwhile, steep leap in the US currency contributed to downside momentum.
Gold gave up most their revenues from Monday’s trading session because the evergreen buck rallied steeply following signs of progress on tax reform as well as bullish labor market data.
According to the US Labor Department's latest Job Openings and Labor Turnover Survey, September’s job openings grew to nearly 6.1 million, thus confounding hopes for 6.091 million.
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.