On Friday, gold managed to rally following the publication of American economic reports overnight…
Gold jumps in Asia heading into Fed Reserve rate views
On Wednesday, gold managed to soar in Asia in cautious trade because market participants waited for the latest Fed rate verdict as well as forward-looking guidance on plans to trim its huge balance sheet.
August delivery gold futures added 0.23%, being worth $1,271.55 per troy ounce.
Gold futures were trapped in rather a narrow range because market participants stood away from initiating large positions in gold ahead of the start of the Fed’s June gathering, with the majority of investors hoping for an interest rate lift.
In an ascending interest rate environment, investor hunger for gold dips because the opportunity cost of holding gold tacks on relative to other interest-bearing assets, including bonds.
Market participants closely watch Fed chair Janet Yellen’s press conference for any signs on future monetary policy as well as an update on the major US bank’s intention to cut its $4.5 trillion balance sheet.
On Thursday, gold extended a mild revival in the face of mixed American data as well as a stock market stabilizing near record maximums…
Bulls could not hold yesterday's gains for USD/JPY.
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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…