Gold jumps in Asia on moderately dovish Fed minutes

Gold jumps in Asia on moderately dovish Fed minutes

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.


Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

Will oil change the trend after OPEC-JMMC meetings?
Will oil change the trend after OPEC-JMMC meetings?

On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.

Latest news

Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

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