Gold rallies moderately in Asia

Gold rallies moderately in Asia

On Wednesday, gold ascended in Asia, following the fact that snag in passage of American tax cuts linked to a procedural glitch in the Senate. It definitely kept financial markets on edge despite the vast majority of experts point out that the anticipated bill will still pass this week.

February delivery gold futures rallied 0.22% being worth $1,267.00 a troy ounce.

Overnight, gold headed south, suppressed by a soar in Treasuries on ascending optimism surrounding the outcome of the tax bill vote as well as firm housing data hinting at underlying economic strength.

Notwithstanding the weaker greenback, a rebound in American Treasuries following firmer-than-anticipated housing data, restricted revenues in the number one precious metal.

On Tuesday, the Commerce Department informed that single-family homebuilding, accounting for the largest share of the housing market, tacked on 5.3% to a rate of approximately 930,000 units. It happened to be the greatest outcome since September 2007.

 

Similar

Latest news

Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera