Congratulations! Gold has just opened a new era... or, rather, reopened...
Gold slides in Asia as regional data backs surge views
On Thursday, gold went down in Asia, with a bunch of regional data backing market sentiment as well as a focus shifting to the expected battle just to get a tax cut passed in America, which would likely have a knock-on effect on the Fed’s policy if successful.
December delivery gold futures sank 0.52% in New York being worth $1,307.27 a troy ounce.
In Japan, July’s provisional industrial output data declined 0.8%, which is more than a 0.5% sag expected.
In China, the official manufacturing Purchasing Managers' Index hit 51.7 in August, surpassing hopes, as data published on Thursday demonstrated.
Overnight, gold declined from an eleventh-month maximum, reacting to a rebound in the greenback, after a couple of better-than-expected reports on private job creation as well as economic surge raised hopes of a rate lift later in 2017.
August’s ADP employment data estimated private-sector payrolls grew by 237,000 versus consensus estimates of about 185,000.
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!