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On Tuesday, gold went down in Asia as markets became cautious ahead of Wednesday's Fed policy statements with the highly anticipated details on the tempo of unwinding its balance sheet.
December delivery gold futures rallied 0.14% being worth $1,312.70 a troy ounce.
Overnight, the leading precious commodity sagged because tumbling tensions on the Korean Peninsula pressured safe-haven demand and a steep uptick in the greenback curbed market sentiment on gold ahead of the Fed’s two-day gathering slated for Tuesday.
Treasury yields headed north abruptly, pushing the evergreen buck up, amid hopes that the key US financial institution will announce it’s about to start unwinding its $4.5tn bond portfolio and it’s planning to have its outlook reaffirmed that an extra rate lift remains appropriate in 2017.
Meanwhile, geopolitical uncertainty relieved, thus reducing demand for gold because market participants simply downplayed US-North Korea tensions and shifted to risker assets, including equities.
On Tuesday, gold rallied a bit because the evergreen buck slumped ahead of what’s widely anticipated to be the Fed’s third interest-rate lift of 2018 this week…
On Monday, gold managed to ascend from one-week minimums in subdued Monday trade due to the fact that market participants waited for what’s widely anticipated to be the Fed’s third interest-rate lift of 2018 this week…
On Friday, gold declined, simultaneously trying to preserve its weekly profits because the USD index jumped, offsetting its abrupt weekly dive…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
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…
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…
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