Congratulations! Gold has just opened a new era... or, rather, reopened...
Gold sags in Asia as risk trade relives
On Monday, gold edged down in Asia because risk trade relieved and market participants waited for more insight on American tax cut plans as well as related Fed policy.
December delivery gold futures dived 0.33% being worth $1,292.1841 in New York.
Meanwhile, copper futures went down 0.36% trading at $3.057 a pound.
The industrial metal has rebounded approximately 6% from the three-year maximums reached in late October, amid worries as for demand from China, the world’s number one consumer. For the year copper has gained more than 20%.
Additionally, China informed that home prices in key country’s cities were still steady as leaps and dips slowed tempo in October amid severe government controls.
Besides this, traders will pay attention to Wednesday’s Fed gathering minutes for new clues on the probable trajectory of monetary policy.
American data on durable goods orders will be monitored too in this holiday-shortened week.
Three main drivers of the market: the stimulus package, the US presidential election and the coronavirus. Let's look how market reacts.
The US Department of Justice thinks 87% a market share is too much for Google alone. The market thinks it's ok.
EU Flash Manufacturing & Services PMI will come out on Friday at 11:00 MT time!