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On Thursday, gold jumped in Asia because the major US bank appears on track for a December rate lift, although the financial institution demonstrated a dovish tone in its 2018 minutes published overnight.
December delivery gold futures grew 0.65% being worth $1,297.32 a troy ounce.
Fed policymakers had rather a prolonged discussion of the prospects of a pickup in inflation, not to mention slowing the path of future interest rate increases if it did not. That’s what market participants learnt from the Fed’s last policy meeting on September 19-20 issued on Wednesday.
As Japan posted, its PPI figures for September tacked on 0.2% as anticipated on month.
Overnight, the major precious commodity slumped below breakeven following easing geopolitical uncertainty, although losses were capped by greenback weakness due to labor market data, which undershot hopes.
On Tuesday, Catalan President Carles Puigdemont told that the declaration of independence would be frozen just to ensure further negotiations with Spain.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
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…
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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