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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 faced its most impressive daily dive for six months right after it had been reported that China and America were demonstrating huge progress in resolving their long lasting trade conflict…
On Wednesday, gold was nearly intact in Asia due to the fact that traders waited for the minutes of the US major bank’s January meeting…
On Tuesday, gold managed to rally because traders awaited the publication of the minutes from the recent Fed policy gathering with hopes for them to confirm the major financial institution’s dovish policy stance…
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On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
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