Heads up to the release of weekly crude oil inventories at 17:30 MT!
Gold goes down to 2019 minimum
On Monday, gold headed south to its lowest value of the year due to the fact that investor appetite for risk was still firm notwithstanding data disclosing that China's 2018 economic surge speeded down to a near three-decade minimum.
On the Comex exchange, gold futures dived by 0.4% reaching $1,277.25 a troy ounce. Earlier, the number one precious commodity reached a minimum of $1,276.80, which appears to be the weakest value since December 28.
On the Comex there won’t be any floor trading on Monday due to the Martin Luther King Day holiday in America.
Besides this, spot gold hit $1,278.11 per ounce, heading south by nearly 0.3%.
China's fourth-quarter GDP rallied at the slowest tempo since the global financial downtime, diving to 6.4% on-year as anticipated from 6.5% in the third quarter, as the National Bureau of Statistics previously informed.
It pulled full-year surge down to 6.6%, which appears to be the slowest annual tempo since 1990 because faltering domestic demand as well as bruising American levies put pressure.
The dismal data backed the view that the Chinese cabinet will have to come up with more measures to prevent a steeper deceleration.
Besides this, market participants are eager to hear UK Prime Minister Theresa May's alternative plan for Brexit. It’s expected to be unveiled to the UK parliament later in the day. By the way, the initial proposal of hers, negotiated for about two years with the European bloc, wasn’t approved by lawmakers the previous week.
May is anticipated come up with a statement in the country’s legislative body at 15:30 GMT. Britain’s Prime Minister is seeking to secure a new withdrawal pact before the March 29 deadline to depart from the European bloc.
Additionally, silver futures went down by 1% ending up with $15.23 a troy ounce.
Crude oil inventories will be out at 17:30 MT time
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
De-escalation between the US and Turkey and News for the GBP are on the agenda
The reports that the UK and the EU reached a deal pushed the GBP up immediately.
The European Brexit Summit will gather the main attention today...