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On Thursday, oil surged in Asia, backed by upbeat GDP data for the third quarter in China, which is the world's number one crude importer. Another factor was growing demand by China’s refineries.
November delivery crude futures grew 0.02% in New York being worth $52.05 a barrel. Meanwhile, Brent futures stood still, sticking to $58.15 a barrel.
On Thursday, China informed that its third quarter GDP showed an expected outcome, demonstrating a 1.7% leap on quarter as well as 6.8% soar on year. Meanwhile, industrial output grew 6.6%, which is more than the 6.2% jump observed in September, while fixed asset investment added 7.5%, which is below the 7.7% revenue observed. Additionally, the country’s retail sales ascended 10.3%, thus surpassing the anticipated 10.2% growth.
In September, China's domestic crude output sank 2.9% hitting 15.53 million metric tons, as the National Statistical Bureau revealed on Thursday.
Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears…
On Monday, gold slipped a bit because the USD index rallied to its highest value for more than 17 months, thus affecting gold’s demand…
On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution…
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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