Gold sinks in Asia with markets waiting for clues from Fed

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 US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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