Will the oil prices rise?
The organization of the petroleum exporting countries (OPEC) and non-OPEC oil producers (Russia) will meet on July 1-2.
Gold grows in Asia as China Caixin manufacturing PMI soars
On Tuesday, gold futures rallied in Asia, with regional currencies demonstrating some profits on the greenback by regional currencies following a better than expected Caixin manufacturing PMI for July.
August delivery gold futures tacked on by 0.19% being worth $1,268.97 a troy ounce.
Unlike the observed 50.4 reading, on Tuesday, the Caixin manufacturing PMI showed 51.1, surpassing expectations.
Overnight, gold edged down below breakeven notwithstanding a more than fourteen-month decrease in the US currency on the back of ascending uncertainty whether the Fed will keep to its initiative to increase rates at least once more in 2017.
The number one precious commodity traded in a narrow five-dollar band $1,268.40-$1,270.31, trying to capitalize on greenback weakness amid a sag in physical demand for gold.
In India, gold demonstrated the biggest discount for seven months as a rebound in prices affected retail demand, while imports of gold are expected to be weighed amid a seasonal slowdown.
Similar
The rally for the yellow metal
The dovish Fed pushed the price for the yellow metal up.
Gold reaches new high
The price for the yellow metal has crossed the level at $1,341.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold ascends on Brexit jitters
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
Deposit with your local payment systems
