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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 Thursday, the yellow metal headed south in Asia due to the fact that recent economic data indicated an improved economic surge outlook and also put pressure on the safe-haven commodity…
On Wednesday, gold was nearly intact, sticking with a four-month minimum because better-than-anticipated economic data from China kept global appetite for risky assets healthy and also tamed demand for havens…
On Tuesday, the yellow metal went down in Asia against the backdrop of more positive developments in the China-US trade negotiations…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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