Gold is nearly intact ahead of Fed minutes
On Wednesday, gold was nearly intact in Asia due to the fact that traders waited for the minutes of the US major bank’s January meeting…
Gold goes down in Asia
On Wednesday, gold sank in Asia, with markets waiting for Britain’s formal move to start a split from the European block later in the day.
In New York, April delivery gold futures tumbled 0.49%, trading at $1,249.50 a troy ounce. Meanwhile, silver futures slumped inched up 0.77%, trading at $18.248 per troy ounce. Besides this, copper futures hit $2.670 a pound.
Overnight, gold stood still, though remained close to one-month peaks, notwithstanding positive economic data and rate lift chatter from Fed officials.
Gold shrugged off a bounce in the greenback because jitters regarding Trump’s ability to push through his pro-growth economic agenda provided market participants with a reason to look for refuge in the number one precious metal, traditionally considered to be a safe haven asset.
Meanwhile, comments from Fed officials as for interest rate lifts kept surfacing because on Monday, both Chicago Fed President Charles Evans and Dallas Fed Bank President Robert Kaplan suggested that the Fed would continue on its monetary tightening policy.
.jpg)
Similar
Gold surges to fresh 9-month maximums
On Tuesday, gold managed to rally because traders awaited the publication of the minutes from the recent Fed policy gathering with hopes for them to confirm the major financial institution’s dovish policy stance…
Gold inches up towards new 10-month maximum
On Monday, the yellow metal managed to ascend, making its way towards their best outcome since April because the evergreen buck slumped on expectations that America and China would come to an agreement ending their long-lasting trade conflict…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
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…
Greenback edges down
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…
Deposit with your local payment systems
