Crude's prices fall on the inventories' release
The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
Gold gains in Asia
On Wednesday, gold managed to ascend in Asia. It’s because Donald Trump dared to urge bipartisan cooperation on updating American immigration policies and also rebuilding infrastructure in his Tuesday’s address to Congress.
Ahead of the president’s speech, Democrats and Republicans got split over immigration that has been closely connected with congressional efforts to have a spending bill passed.
February delivery gold futures added 0.10% in New York hitting $1,336.80 a troy ounce.
As Australia informed, for the fourth quarter consumer price inflation inched up 0.6% versus a 0.7% ascend on quarter observed, also demonstrating a 1.9% tempo on year unlike the anticipated 2% surge. Additionally, December’s private sector credit tacked on 0.3%, which is lower than the anticipated 0.5% leap.
In addition to this China revealed that its official manufacturing PMI hit 51.3 versus a 51.5 outcome anticipated for January, which is also lower than December’s reading of 51.6.
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The price for gold has tested the levels above $1,500
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
Gold is rising
The yellow metal could not stay for a long time near the $1,401 level.
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Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
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