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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.
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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…
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