The price for the yellow metal has crossed the level at $1,341.
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.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…