Observing news today one can easily get disappointed. However, things are getting better.
Gold inches down
On Monday, the yellow metal decreased in Asia due to the fact financial markets wait for the result of the next FOMC gathering.
On the Comex exchange, June delivery gold futures slumped by about 0.1% being worth $1,287.05 an ounce.
The major US financial institution is going to conclude its two-day gathering on Wednesday against the backdrop of hopes that interest rates will remain intact. The gathering is coming after official data revealed on Friday that the American economy rallied faster than anticipated in the first quarter.
At this March meeting, the major US bank indicated that it’s going to hold off from lifting rates for the rest of 2019 in the face of expectations for a slower tempo of the economic surge.
Besides this, soft American inflation data published on Friday put pressure on the evergreen buck and was cited as supportive for gold earlier in the day.
Without energy and food, the personal consumption expenditures price index speeded down to about 1.3% for the 12 months through March, in contrast with the previous outcome of 1.8%.
Goldman Sachs told that major US financial institution’s gold buying has also been running strong. Undoubtedly, it appears to be another sign that the yellow metal might get back to the level of $1,300.
China-US trade headlines were still in focus due to the fact America sends a high-level delegation to China this week for another round of negotiations. Some experts are assured that both the leading economies are very close to a long-awaited compromise now. So, they are expected to demonstrate greater flexibility in the upcoming talks in Beijing.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Economic activity in service sector in the Euro zone and the UK is on its lowest rates since 2009.
Jerome Powell made a rare appearance in the public media this Thursday. What did he bring to the audience?