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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.
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On Monday, market participants were selling metals as well as other assets, which are traditionally referred to as "safe havens" due to the weakening fears of a trade conflict between the United States and China…
On Friday, demand for gold slumped in the face of the growth of the evergreen buck…
On Thursday, gold dived, getting back to a minimum since December in the face of the diving American currency as well as the yield of US government bonds…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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