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.



Gold declines due to Thanksgiving Day

On Thursday, gold sagged in holiday-thinned trade, although losses were capped by rumors that the major US bank might not tighten American policy as mawkishly as previously anticipated…

Crude is firm on anticipated OPEC cut extension

On Wednesday, crude rallied after a reported dive in American crude inventories and also on hopes that an OPEC-led output cut aimed at tightening the crude market is going to be extended beyond next March…


promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later