Gold goes down in Asia as greenback moderately rebounds in early trade

Gold goes down in Asia as greenback moderately rebounds in early trade

On Monday, gold sank in Asia because the evergreen buck modestly rebounded, thus aiding some physical selling.

February delivery gold futures dived 0.31% being worth $1,347.90.

As for the US dollar index, it edged up 0.18% being worth 89.03.

On Tuesday, the Fed gathering, the last headed by Janet Yellen before Jerome Powell takes office, is going to be in focus. The same is true for Friday’s American jobs report for January as well as Wednesday’s euro zone inflation data.

The previous week, the evergreen buck demonstrated its greatest weekly sag since June, reacting to remarks from the American Treasury secretary welcoming a weaker dollar.

The previous week, gold concluded lower, although remained in sight of yesterday’s 17-month maximum as the evergreen buck was suppressed by data pointing to stepping down American economic surge as well as comments by a senior US statesman underpinning a weaker currency.


Gold fell below $1,700

Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.

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