The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
Gold sags in Asia as BOJ and PBOC are eyed
On Thursday, gold dived a bit because market participants debated the prospect of China steeply reducing purchases of American Treasuries and whether the BOJ is braced for inching forward on a way out of its hawkish monetary policy.
Gold futures sank 0.06% in New York being worth $1,318.50 a troy ounce.
Overnight, the number one precious metal was hovering near four-month maximums because market sentiment on the greenback weakened ahead of retail sales as well as inflation reports due at the end of the trading week.
The evergreen buck obtained no support after Wednesday’s official data revealed that American import prices rallied less than anticipated in December, while export prices suddenly dived.
Investors were currently focusing on the publication of American inflation data due on Friday, for further clues on the potential tempo of rate lifts by the major US bank.
The US currency had initially soared after San Francisco Fed President John Williams told on Saturday that the Fed requires increasing interest rates up to three times in 2018 because the American economy will benefit from tax cuts.
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.