Gold is underpinned by wavering US currency
On Monday, gold managed to surge due to the fact market participants questioned the greenback jump’s near-term durability…
Gold jumps in Asia ahead of Fed gathering
On Wednesday, gold leapt in Asia, with the upcoming Fed gathering believed to hold steady and market participants cautious ahead of nonfarm payroll data.
December delivery gold futures rallied 0.01% being worth $1,270.65 a troy ounce. Meanwhile, copper futures added 1.19% trading at $3.149 a pound.
October’s Caixin/Markit manufacturing PMI hit 51.0, standing still from September.
Overnight, the precious commodity hovered above session minimums suppressed by a soaring greenback on the back of bullish economic reports, which raised traders’ expectations of bullish American economic surge.
In October, the Conference Board’s consumer confidence gauge tacked on to 125.9 from September’s reading of 119.8, thus confounding experts’ estimate for an outcome of 121.
By the way, consumer sentiment appears to be a major indicator of consumer spending, playing a crucial role in overall economic activity.
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On Friday, gold managed to rally due to the fact that American leader shockingly impacted market optimism generated by the probability of renewed trade negotiations between China and America…
Gold stands still on hopes for US-China trade talks
On Thursday, gold stood still against the backdrop of news of probable US-China trade negotiations, although the yellow metal was held down by a firmer evergreen buck…
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Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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