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On Tuesday, gold lost ground in Asia, giving up some profits from Monday, while Tokyo gold managed to stand out as the only gainer.
August delivery gold futures declined 0.13%, trading at $1,211.60%, thus giving up some revenues from yesterday. However, in Tokyo, the June 2018 contract tacked on 0.23%, hitting JPY4,442 per gram.
In the week ahead, market participants will pay attention to Fed Chair Janet Yellen's testimony on monetary policy and also American data on retail sales and inflation, due out on Friday. Additionally, on Thursday, they are going to monitor Chinese trade data. A hawkish outlook from the major US bank could send the number one precious metal further down to reach multi-month minimums.
The US dollar index, gauging the US dollar’s strength versus a trade-weighted basket of six crucial currencies, grew 0.08%, trading at 96.10.
As a matter of fact, the dollar and gold trade in opposite directions. Accordingly, when the greenback ascends, gold futures, denominated in the dollar, head south.
On Tuesday, gold managed to gain a bit due to the fact that the first dive in factory gate inflation for four months backed the argument that the major US bank should suspend monetary policy tightening and traders looked ahead to a bunch of remarks from…
On Thursday, gold was intact due to the fact that market participants waited for comments from Fed Chair Jerome Powell in the face of hopes that the head of the US key financial institution is going to reaffirm a pause in the US monetary policy…
On Monday, the yellow metal surged, concluding at the psychologically crucial $1,300 level due to the fact that the evergreen buck was impacted by hopes that the key US financial institution would stop its rate-lifting cycle for the year, thus raising…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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