Gold futures stand still
On Wednesday, gold was nearly intact in Asia notwithstanding an uptick in uncertainty surrounding the China-US trade negotiations…
Gold rebounds from 6-week maximums ahead of Powell hearing
On Tuesday, gold declined, rebounding from the previous session's six-week maximum because market participants waited for comments from the next governor of the Fed for new clues on the probable trajectory of US monetary policy.
Gold futures dived 0.2% showing an outcome of $1,292.80 a troy ounce. In the previous trading session the precious commodity demonstrated its best level since October 16 hitting $1,299.00.
On Monday, gold managed to settle higher, gaining some support from recent weakness of the US dollar index.
A bit later on Tuesday, Jerome Powell, picked by Donald Trump as the next Fed Governor, is scheduled to appear before the Senate Banking Committee for his confirmation hearing – it’s expected to provide some insight into how the new Fed Chair intends to lead the key US bank.
Financial markets are doubtful as for the Fed’s ability to lift rates soon considering the sluggish inflation outlook.
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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…
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