Gold is underpinned by wavering US currency
On Monday, gold managed to surge due to the fact market participants questioned the greenback jump’s near-term durability…
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.
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Gold stands still on hopes for US-China trade talks
On Thursday, gold stood still against the backdrop of news of probable US-China trade negotiations, although the yellow metal was held down by a firmer evergreen buck…
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Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
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…
Greenback edges down
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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