Gold gains in Asia ahead of publication of Fed minutes for June gathering

Gold gains in Asia ahead of publication of Fed minutes for June gathering

On Wednesday, gold grew ahead of the anticipated publication of Fed minutes from the June gathering expected to give greater insight into the chances for another rate lift in 2017.

Gold futures inched up 0.73% in New York, trading at $1,228.09 troy ounce.

The major precious metal bounced back after Tuesday’s steep dip amid increased geopolitical risk after North Korea told it had successfully tested an intercontinental ballistic missile.

Gold concluded the previous session down 1.47%, showing $1,224.34 an ounce, which is the largest one day percentage sag since June 15. It’s because a stronger greenback and revenues in American equities applied pressure. Monday’s positive American manufacturing data underpinned expectations for another rate lift by the Fed in 2017 and also helped the dollar index to drift away from Friday’s nine-month dip.

Trade volumes were about to stay thin with American markets closed on Tuesday due to the Independence Day holiday.



US Retail Sales

A change in retail sales is one of the most important economic indicators for the US economy and the USD.

Gold inches up

On Thursday, gold managed to gain due to the fact that the evergreen buck gave up some of its revenues, while relieving trade-war worries assisted traders in cutting bearish bets on other commodities…


Asian shares tumble with Japan markets shut

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…

Greenback surges as yields soar

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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