Gold futures gave up almost all of their earlier gains by Tuesday afternoon, though still marked the highest most-active contract settlement since August 2013.
Federal Reserve Chairman Jerome Powell suggested Tuesday that an interest-rate cut in July is not a done deal. Following those comments, George Gero, managing director at RBC Wealth Management, said he expected to see profit taking in gold. A July interest-rate cut has been widely expected by investors and economists.
August gold rose...
Tokyo's leading Nikkei stocks index opened marginally lower on Tuesday after a quiet Wall Street session with all eyes on a heavily anticipated US-China meeting at the Group of 20 summit later this week.
The benchmark Nikkei 225 index was down 0.03 percent or 5.44 points at 21,280.55 in early trade, while the broader Topix index was up 0.12 percent or 1.89 points at 1,549.63.
Gold's rally shows no signs of abating.
The metal surged to the highest level in almost six years as fresh U.S. sanctions on Iran added to uncertainty in global markets, with investors also looking to the G-20 summit this weekend where Presidents Donald Trump and Xi Jinping are expected to meet to discuss trade. Another key event on traders™ watchlist is Federal Reserve Chairman Jerome Powell™s speech in New York later Tuesday, which will touch on monetary...
The U.S. dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency.
The euro hit a three-month high of $1.1412, having gained 2.0% from a two-week low of $1.1181 touched a week ago. It last stood at $1.1382, down 0.1% on the day.
The dollar dropped 0.4% to as low as 106.78.The yen has also benefited from investor nerves over tensions...
The dollar on Tuesday remained shackled by the prospects of monetary easing by the Federal Reserve while the safe-haven Swiss franc and gold were supported by simmering tensions between Washington and Tehran.
The euro hit a three-month high of $1.14065 in early Asia trade. It has gained 2.0% from a two-week low of $1.1181 touched a week ago as the dollar has lost steam.
The dollar was on the defensive against the yen at 107.35 yen, a tad above Friday's five-month low of 107.045.