Observing news today one can easily get disappointed. However, things are getting better.
Gold moderately declines in Asia as traders wait for Jackson Hole
On Wednesday, gold sank in Asia because market participants became cautious ahead of a gathering of key bankers this week in Jackson Hole, which might offer fresh cues on interest rates as well as unwinding stimulus efforts.
December delivery gold futures went down 0.02% in New York being worth $1,290.78 a troy ounce.
Overnight, gold went down, reacting to a rebound in the evergreen buck because market participants were still wary of initiating huge positions in the number one precious commodity ahead of a two-day key banking symposium this week.
On Tuesday, gold was unable to break $1,300 because the precious metal went down close to one-week minimums because a sag in US-North Korea tensions relieved safe-haven demand. Meanwhile, market participants shifted their attention to an approaching highly anticipated symposium of major bankers slated for Thursday that could offer clues on monetary policy changes.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N