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On Friday, gold slumped moderately in Asia, with financial markets braced for reacting to any signs on monetary policy from the Fed as well as ECB bank chiefs later in the day.
In New York, December delivery gold futures went down 0.01% reaching $1,291.94 a troy ounce.
Overnight, the major precious commodity stood still amid thin trading volumes. It’s because market participants waited for signs on monetary policy from a key banking symposium in Jackson Hall that burst out on Thursday.
Gold fluctuated in rather a narrow $6 range because market participants kept their powder dry ahead of decisive speeches by ECB Governor Mario Draghi as well as Fed Chair Janet Yellen.
Draghi isn’t supposed to provide much insight into the ECB’s view on monetary policy. However, market participants are supposed to parse Yellen’s statement to assess the Fed’s sentiment on a third rate lift later in 2017.
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…
On Thursday, gold declined notwithstanding a weakening evergreen buck in the face of ebbing trade fears, as market participants waited for economic data later in the trading session and also looked ahead to the Fed’s policy gathering next week…
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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