The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
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.
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
The yellow metal could not stay for a long time near the $1,401 level.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
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…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.