Gold gains moderately in Asia

Gold gains moderately in Asia

On Monday, gold prices added moderately in Asia, with the focus ahead on Fed officials’ comments this week.

In New York, April delivery gold futures soared 0.02%, trading at $1,230.40 a troy ounce. Meanwhile, copper futures reached $2.680 a pound with operations at major mines in Chile and Indonesia in focus as negotiations on wages and regulations continue.

This week the market awaits Fed officials, including Chair Janet Yellen. Traders want more clues on the timing of the next American rate lift and also eye data on inflation from Great Britain as well as euro zone polls on business activity as the UK braces for Brexit. On Monday, Japanese markets are shut for a holiday.

The previous week, gold prices inched up on Friday as expectations of a slower pace of American interest rates lifts than some market participants had anticipated kept weighing on the major US currency.

However, the Fed didn’t flag any plan to speed up the overall pace of monetary tightening, with Yellen repeating that the pace of rate lifts would be gradual. 


The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

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?

Latest news

China Stocks are About to Jump
China Stocks are About to Jump

It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.

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