Observing news today one can easily get disappointed. However, things are getting better.
Gold soars on India-China spat
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.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
US Fed comes right on time with the crisis support program announcement. How does the stock market react?
We could gain from buying emerging-market currencies such as South African rand, Mexican peso and Brazilian real.
Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N