Gold sinks in Asia

Gold sinks in Asia

On Friday, gold tumbled moderately in Asia because market participants searched for support from physical markets in India. As next month China will face a week-long holiday period, trade is expected to recede.

December delivery gold futures dipped 0.06% in New York being worth $1,287.88 a troy ounce.

Besides this next month India's festival season will burst out, with firm demand for physical gold.

Overnight, gold was nearly intact because the evergreen buck’s weakness capped downside momentum, although the precious metal was still under pressure amid investor hopes for a year-end interest rate lift.

Gold futures tried to cease the recent decline that has seen the number one precious commodity sag below $1,300, underpinned by a sink in the greenback that followed several mixed economic reports.

GDP inched up at a 3.1% annual rate during the April-June period, as the Commerce Department revealed in its third estimate on Thursday. It surpassed last estimate of 3%.

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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