This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
Gold heads south in Asia with traders waiting for Fed clues next week
On Thursday, gold went down moderately in Asia, with financial markets waiting for comment from the key US bank at next week's policy meeting.
February delivery gold futures dived 0.03% in New York being worth $1,265.70 a troy ounce.
Middle East tension strengthened as President Donald Trump is reversing decades of American foreign policy, telling he’s urging the State Department to start preparations to move the US Embassy in Israel to Jerusalem from Tel Aviv.
Overnight, the number one precious metal hovered above six-week minimums because the evergreen buck kept soaring after uncertainty as for a probable American government shutdown relieved, thus diminishing investor demand for gold.
Gold struggled to hold onto revenues because worries regarding a probable government shutdown relieved amid news that the GOP leadership in the House and Senate intended to pass a bill, which would extend the government shutdown deadline from December 8 to December 22.
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.