On Wednesday, gold was nearly intact because traders closely watched a policy statement by the key US bank, which is expected to shed light on its interest rate plan for the rest of 2019…
Gold goes down notwithstanding dismal China’s data
On Thursday, in Asia, gold slipped notwithstanding the fact that China posted weaker-than-anticipated industrial output data.
On the Comex exchange, April delivery gold futures dived by 0.5% hitting $1,303.35 per ounce. The yellow metal stood above the major $1,300 level having reached a two-week maximum of $1,309.60 on Wednesday.
Eventually, China’s industrial output rallied at the slowest tempo for 17 years for the first two months this year. In January and February, the country’s factory output went up by 5.3% year-on-year that appears to be the lowest outcome since 2002.
The given data sent China’s shares down, although prices of the safe-haven yellow metal weren’t affected a lot.
Meanwhile, in the United Kingdom, lawmakers are expected to vote on whether to extend the Article 50 after they denied the idea of departing from the European bloc without a Brexit agreement.
The Article 50 happens to be the provision of the EU treaty under which Great Britain is departing from the trading bloc.
On Wednesday, American data revealed that producer prices rallied in February that appears to be the latest indication that inflation is still tame. It affirmed hopes that the Major US bank would keep to its patient stance as for future tightening.
Evaluating the evergreen buck’s purchasing power in contrast with its main counterparts the USD index surged by 0.1% hitting 96.632.
Today China-US trade negotiations also gained some attention today after American leader proposed to push back a summit with China’s leader Xi Jinping until a final agreement on trade is reached.
As Trump revealed to reporters, they can really complete the deal and the final points need to be negotiated.
On Tuesday, gold jumped, underpinned by hopes that the US main financial institution is going to send financial markets a more dovish message as for future monetary policy following the two-day policy gathering scheduled to start a bit later on Tuesday…
On Monday, gold managed to ascend because traders closely watched a busy week probably to be dominated by the Fed’s regular policy gathering…
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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…