The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
Gold slides in Asia on hawkish Fed minutes
On Thursday, gold went down in Asia because the Fed appeared to be a bit more hawkish in the December gathering minutes and market participants fretted over inflation difficulties.
February delivery gold futures went down 0.78% being worth $1,308.20 a troy ounce.
As minutes of the Fed's December gathering revealed, officials expect reductions in corporate as well as personal taxes to spur consumer and also business spending, although they are still unsure of how much impact the newly-passed reform effort will have.
The Fed increased their hopes for 2018 GDP surge from 2.1% to 2.5%. The vast majority of traders told that prospective changes in federal tax policy happened to be a factor, which led them to boost their projections of real GDP surge over the next several years.
While looking favorably on the soaring stock indexes, a number of officials have already expressed worries that that keeping policy too accommodative could drive bubbles.
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
The yellow metal could not stay for a long time near the $1,401 level.
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.