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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.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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