Gold inches down in Asia as focus shifts back to Trump policies

Gold inches down in Asia as focus shifts back to Trump policies

On Wednesday, gold declined in Asia, with the near-term focus on the evergreen buck because the Trump administration's struggles to spot its economic as well as foreign policy footings.

August delivery gold futures dived 0.51% in New York, showing an outcome of $1,266.10 troy ounce.

As Fed rate monitor tool states, approximately 30% of investors expect the Fed to lift interest rates in December.

The precious commodity has made an upbeat start to the trading week, contributing to its three-week winning streak amid a tumble in the US currency and also everlasting political uncertainty in the USA.

American uncertainty was still actual after on Monday Donald Trump sacked newly- hired White House communications chief Anthony Scaramucci.

A weaker greenback makes commodities, including gold, traditionally priced in the US dollar, more affordable to buyers outside of America.

Gold reached seven-week maximums after mixed economic reports on personal spending, manufacturing activity and inflation didn’t manage to relive concerns as for the strength of the American economy.

Similar

Gold fell below $1,700

Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.

Latest news

How to trade ahead and after BOC report?
How to trade ahead and after BOC report?

The Canadian central bank will make a monetary policy report and announce interest rates on Wednesday, January 20, at 17:00 MT time. Also, the BOC press conference will be held later.

US earnings in January 2021: what you need to know
US earnings in January 2021: what you need to know

We are now past the middle of January, and this means that the largest US companies will report their earnings for the fourth quarter and many of them will provide the results of the entire 2020.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera