Events in Libya pushed the oil price up. So what's the strategy to benefit from it?
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.
The oil prices experienced significant losses amid the US-Iran tensions at the beginning of the year. What's next?
Iran retaliates, Donald Trump will announce the next step by the US today. Gold flies up to $1,600 per ounce.
To be considered an official law, the Brexit paper just needs a signature of the Queen now. How does that affect the GBP?
Canada will publish the headline and core retail sales on January 24 at 15:30 MT time.
The European Central Bank will publish its monetary policy statement and announce the main refinancing rate on January 23 at 14:45 MT time.