Find out the main drivers for this week
Gold jumps in Asia on easy liquidity views
On Friday, gold rallied moderately in Asia because traders digested a triple load of major bank view from the Federal Reserve, BoE and ECB, which pointed to ongoing easy liquidity.
February delivery gold futures soared 0.02% in New York being worth $1,257.40 a troy ounce.
Overnight, the number one precious metal traded close to session maximums, neglecting a rebound in the evergreen buck as the European Central Bank told it would keep pursuing its ultra-accommodative monetary policy measures.
On Thursday, the ECB left its benchmark rate intact, repeating its firm commitment to running an asset-purchase stimulus program until next September.
On Wednesday, gold managed to reverse a two-day drop versus the backdrop of a widely anticipated Fed rate lift and an intact outlook on the path of monetary policy tightening, including up to three rate hikes expected next year.
Meanwhile, silver futures added 0.45% hitting $15.94 a troy ounce, platinum futures tacked on 0.80% being worth $882.40.
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.