Gold holds near one-month high as talks on forming German government collapse, pummeling euro and boosting haven demand. Investors also assessing uncertainty over U.S. tax reform ahead of release of Fed meeting this week.
Bullion for immediate delivery as much as +0.2% to $1,294.88/oz, before trading at $1,292.60 at 9:26am in Singapore: Bloomberg generic pricing.
Source : Bloomberg
Gold dropped on Monday as the dollar rose but political and economic uncertainty in the United States continued to dominate sentiment.
Spot gold was down 1.43 percent at $1,275.80 an ounce, off Friday's peak of $1,297, its strongest since Oct. 16. U.S. gold futures for December settled down at $1,275.30 an ounce.
The dollar gained against the euro after German Chancellor Angela Merkel's efforts to form a three-way coalition government failed. Merkel said she would inform the German president...
Gold eased Monday, giving up early gains seen amid German political uncertainty. Relative stability for the euro as Monday™s trading session progressed helped the shared currency against the dollar, dulling some of the early demand shown for the haven metal.
Gold may consolidate short term after prices rallied Friday to a more than one-month high. The metal tacked on nearly 1.8% for last week, as the latest developments in the investigation into Russia™s interference in the U.S....
GBP/USD has recovered more than 50% of its intraday losses but is struggling build momentum above 1.32 levels.
The collapse of the German coalition talks and the resulting action in Asia (weak EUR, GBP) clearly indicates that investors fear "all major decisions, including Brexit negotiations" could be put on hold till the situation in Germany is sorted out.
Thus, GBP could remain under pressure in Europe. The data calendar is light, but BoE Deputy Governor David Ramsden, who voted against...
Gold holds biggest drop in almost two months as dollar strengthens and equities regain poise. Investors await minutes Wednesday from last Federal Reserve meeting and weigh Fed Chair Janet Yellen™s announcement that she™ll step down from board of governors after Jerome Powell™s sworn in.
Bullion for immediate delivery +0.2% to $1,279.30/oz by 10:10am in Singapore, after -1.2% Monday, largest decline since Sept. 26: Bloomberg generic pricing.
Source : Bloomberg