Find out the main drivers for this week
Gold jumps in Asia ahead of Fed policy views
On Wednesday, gold leapt during Asia trade, with the Fed policy review believed to follow a well-telegraphed script on interest rates and cutting the balance sheet, although some traders are searching for language suggesting a shift to a more dovish outlook.
December delivery gold futures rallied 0.44% being worth $1,316.41 a troy ounce.
Overnight, the leading precious commodity was intact because Donald Trump’s claimed that America would dare to totally destroy North Korea in an attempt to defend itself as well as its allies and those words did little to underpin safe-haven demand as market participants focused on the two-day Fed gathering concluding on Wednesday.
Trump’s recent threat to North Korea didn’t manage to garner much attention because investor focus was still on the two-day Fed gathering, which is expected to conclude on Wednesday with a highly anticipated statement on monetary policy.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.