Find out the main drivers for this week
Gold sinks in Asia with markets waiting for clues from Fed
On Monday, gold dived in Asia, with financial markets waiting for the Fed comments this week after it reviews its interest rates.
February delivery gold futures gained 0.11% showing a reading of $1,249.80 a troy ounce in New York.
This week the Fed is generally expected to raise its rates approximately by a quarter point.
The previous week on Friday, gold edged down to a four-month minimum low and reported the largest weekly dive since May after Friday’s stronger-than-anticipated American jobs report underlined hopes for a rate lift by the Fed at its upcoming gathering.
In November, the American economy generated up to 228,000 jobs, according to the Labor Department. The given outcome exceeded the 200,000 estimate by financial experts, while the unemployment rate was intact at 4.1% for a second consecutive month.
In the USA wages gained 0.2% for the month as well as 2.5% from 2016 that happened to be below estimates of respectively 0.3% and 2.7%.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
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