Gold surges in Asia

Gold surges in Asia

On Thursday, gold ascended in Asia, as market participants parsed the latest Fed minutes for the pace of expected rate lifts and a weaker greenback backed demand.

Some traders actually considered the Fed minutes to be a bit less hawkish than expected and as uncertainty swirls around Trump's intention to lower taxes and boost spending, the outlook hadn’t changed a lot since January with further strengthening of the labor market as well as progress towards the inflation objective and that rate lifts are likely ahead in line with a forecast for three in 2017.

However, members were split over whether stronger inflation justified faster lifts currently or a more gradual pace, considering the persistence of low inflation in the past.

In New York, April delivery gold futures grew 0.70%, trading at $1,257.25 a troy ounce, while copper futures went down 0.34%, reaching $2.668 a pound.

Overnight, gold eased from one-month peaks, suppressed by a soar in the greenback, after the publication of bullish American private sector job surge.

 

Similar

Latest news

Greenback edges down

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…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera