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On Friday, gold drifted moderately higher in Asia, with focus shifting to a tense Himalayan standoff between China and India who were involved in a brief, but fierce border war conflict over the territory in 1962.
December delivery gold futures tacked on 0.02% being worth $1.292.57 a troy ounce.
Two months ago, the world's top two gold buyers, India and China came to a standoff when Indian troops dared to confront Chinese forces who were working on a road over the Doklam Plateau, which is a strategically crucial area, exactly where India, Tibet and Bhutan meet, and which both Bhutan and China consider to be their own.
Overnight, the number one precious commodity traded close to session maximums after the minutes of the Fed’s July gathering showed that members were concerned about lifting interest rates amid an evident slowdown in inflation, thus narrowing expectations for a third rate lift later in 2017.
However, gold futures struggled to overcome $1,300 because initial jobless claims as well as manufacturing data topped predictions, raising market sentiment on the strength of the American economy.
On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…
On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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