Gold holds moderately weaker in Asia on mixed regional data

Gold holds moderately weaker in Asia on mixed regional data

On Monday, gold held moderately weaker in Asia on mixed regional data and political risk events in focus this week.

In New York, April delivery gold futures declined 0.04%, trading at $1,250.65 a troy ounce. Copper futures dipped 0.30%, trading at $2.648 a pound because labor disruptions at mines in Peru, Chile and Indonesia get resolved.

In Australia, March’s AIG manufacturing index dropped to 57.5 from 59.3, Japan's Tankan large manufacturers poll revealed a leap to plus-12 from plus-10.

The previous week, gold retraced losses after a Federal Reserve official stressed that the major US financial institution was in no rush to tighten its monetary policy in 2017.

Gold soared after New York Fed President William Dudley told on Friday that it really made sense to increase interest rates at a gradual pace in 2017. Hopes for a slower pace of rate hikes tend to spur gold, traditionally denominated in dollars.





Crude is still backed

On Friday, oil was still underpinned amid everlasting optimism as for the rebalancing of the crude market, while the partial closure of the major North-American pipeline generated supply disruption worries…

Gold is nearly intact

On Friday, gold was nearly intact because the US currency started mildly recovering from steep losses demonstrated in the previous trading session…


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