Gold rises in Asia on expectations for demand from India

Gold rises in Asia on expectations for demand from India

On Wednesday, gold rallied in Asia, with hopes for physical demand in India. Additionally, market participants are monitoring political risks along with a weaker greenback.

December delivery gold futures grew 0.28% in New York being worth $1,298.83 a troy ounce.

Overnight, the number one precious metal dived, reacting to a steep soar in the greenback on better-than-anticipated economic data and growing rumors that the next head of the Fed is going to back a more aggressive stance on monetary policy.

Gold kept diving below a major $1,300 level after the evergreen buck spiked on signs that the American economy is on track for a firm quarter of economic surge.

American import prices for September demonstrated their biggest leap in more than a year adding 0.7% for month, as the Labor Department revealed on Tuesday. It surpassed hopes for a 0.5% ascend.

In the USA industrial output tacked on 0.3% in September because construction as well as utilities output revived after Hurricanes Harvey and Irma the previous month, as the Fed informed on Tuesday. In September, manufacturing output grew 0.1%.

Similar

Gold moves down

On Friday, gold declined, simultaneously trying to preserve its weekly profits because the USD index jumped, offsetting its abrupt weekly dive…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

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