Gold heads south with focus on Fed minutes

Gold heads south with focus on Fed minutes

On Tuesday, gold tumbled a bit in Asia in light trade with Tokyo markets unavailable and also the focus ahead on the Federal Reserve minutes later this week.

February delivery gold futures dived 0.04% being worth $1,308.80 a troy ounce in New York.

Market watchers are going to closely watch Wednesday’s minutes of the Federal Reserve’s December policy gathering for further clues on the future path of monetary policy.

The previous week on Friday, a weaker greenback underpinned gold, letting this commodity reach a three-month maximum back above the $1,300 level in the final trading day of 2017.

Gold has managed to add 14% for the year, which is the largest yearly percentage revenue since 2010.

Recent weakness in the evergreen buck has underpinned gold prices by simply making the dollar-denominated metal less expensive for holders of other currencies.

The evergreen buck dived to its lowest values for more than three months versus a basket of the other key currencies on Friday and reported its largest annual percentage dive since 2003.


Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…


Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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