Gold gives up Monday profits in Asia

Gold gives up Monday profits in Asia

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.


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?

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What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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