Gold revives from 6-week minimums ahead of Yellen speech

Gold revives from 6-week minimums ahead of Yellen speech

On Tuesday, gold soared in European trade, reviving from the previous session's six-week minimum because traders looked ahead to comments from Fed Chair Janet Yellen for further signs as for the US major bank's probable rate lift trajectory through the end of 2017.

In New York, gold futures showed $1,251.60 a troy ounce, ascending about 0.4%. The commodity edged down to its lowest value since May 17.

On Monday, gold went down steeply, with prices marking their first dip in four sessions because a huge sell order as well as a stronger greenback impacted sentiment.

Meanwhile, silver futures tacked on 0.4%, demonstrating $16.63 a troy ounce, reviving from the previous session's seven-week minimum of $16.22.

The Fed lifted interest rates for the second time in 2017 and also kept to plans to go ahead with another rate lift by year-end.

Besides this platinum grew 0.7%, trading at $924.15, palladium jumped 0.3%, being worth $866.52 an ounce.




Gold declines on Fed remarks

On Wednesday, gold headed south and kept to a one-year minimum due to the fact the evergreen buck managed to strengthen on Fed Chair’s remarks, which backed views that the US major financial institution considers lifting its interest rates this year…


Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

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