Gold futures settled higher on Monday, recouping some of their recent loss as investors awaited what™s widely expected to be the Federal Reserve™s third interest-rate hike of 2018 this week ” a well-telegraphed move to markets. December gold rose $3.10, or 0.3%, to settle at $1,204.40 an ounce. It settled Friday at $1,201.30, its lowest level in a week even as it ended little changed in price for all of last week. Gold found support as the dollar index tilted slightly lower on Monday....
Wall Street and Main Street both look for gold prices to rise this week, based on the weekly Kitco News gold survey. The U.S. Federal Open Market Committee meeting is widely expected to hike interest rates another 25 basis points this week. But that hasn't deterred analysts, who suggest this is already factored into prices. Eighteen market professionals took part in the Wall Street survey. Thirteen respondents, or 72%, predicted higher prices. There were two votes, or 11%, calling for lower...
Gold declines for second day with trade war in focus as U.S. and China hours away from new round of tariffs on each other's goods, and as investors count down to Federal Reserve's policy-setting meeting this week. Bullion for immediate delivery lost 0.3% to $1,196.81/oz by 9:15am in Singapore; fell 0.6% Friday. Bloomberg Dollar Spot Index added 0.1% after rose 0.2% Friday. $200 billion of Chinese products will be subject to tariffs from 12 p.m. Beijing time, on top of the...
Oil climbed near the highest level in more than two months as OPEC gave a tepid response to U.S. President Donald Trump's demand that it take rapid action to reduce prices, saying it would boost output only if customers requested it. Futures in New York rose as much as 1.2 percent after a 0.7 percent gain Friday. the Organization of Petroleum Exporting Countries and its allied producers stopped short of promising specific extra volumes of crude after the group™s meeting...
The Australian dollar sank and Asian stocks looked set for declines after China on Saturday called off planned trade talks with U.S. officials. The yen pared its initial advance Monday morning, with early moves lower fading for the Australian and New Zealand dollars following the latest development in the trade war. The U.S. and China are hours away from a new round of tariffs on each other™s goods. The yen rose less than 0.1 percent to 112.54 per dollar as of 7:53 a.m....
Australia™s central bank highlighted a better global backdrop and faster growth at home, while reiterating inflation™s advance and unemployment™s decline would be only gradual, in minutes of this month™s policy meeting.
Main Takeaways
Spare capacity in labor market will continue to decline œgradually in 2018 and, as a result, wage growth was expected to rise œgradually
Australia™s GDP growth expected to exceed potential in 2018 and inflation seen increasing œgradually to be a little over 2%
Household debt remained high, contributing to uncertainty around outlook for consumption growth
Economic growth in most of Australia™s major trading partners had risen to be above its five-year average over 2017 and this momentum appeared to have been maintained into 2018
Source : Bloomberg
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Gold futures settled higher on Monday, recouping some of their recent loss as investors awaited what™s widely expected to be the Federal Reserve™s third interest-rate hike of 2018 this week ” a well-telegraphed move to markets. December gold rose $3.10, or 0.3%, to settle at $1,204.40 an ounce. It settled Friday at $1,201.30, its lowest level in a week even as it ended little changed in price for all of last week. Gold found support as the dollar index tilted slightly lower on Monday....
Wall Street and Main Street both look for gold prices to rise this week, based on the weekly Kitco News gold survey. The U.S. Federal Open Market Committee meeting is widely expected to hike interest rates another 25 basis points this week. But that hasn't deterred analysts, who suggest this is already factored into prices. Eighteen market professionals took part in the Wall Street survey. Thirteen respondents, or 72%, predicted higher prices. There were two votes, or 11%, calling for lower...
Gold declines for second day with trade war in focus as U.S. and China hours away from new round of tariffs on each other's goods, and as investors count down to Federal Reserve's policy-setting meeting this week. Bullion for immediate delivery lost 0.3% to $1,196.81/oz by 9:15am in Singapore; fell 0.6% Friday. Bloomberg Dollar Spot Index added 0.1% after rose 0.2% Friday. $200 billion of Chinese products will be subject to tariffs from 12 p.m. Beijing time, on top of the...
Oil climbed near the highest level in more than two months as OPEC gave a tepid response to U.S. President Donald Trump's demand that it take rapid action to reduce prices, saying it would boost output only if customers requested it. Futures in New York rose as much as 1.2 percent after a 0.7 percent gain Friday. the Organization of Petroleum Exporting Countries and its allied producers stopped short of promising specific extra volumes of crude after the group™s meeting...
The Australian dollar sank and Asian stocks looked set for declines after China on Saturday called off planned trade talks with U.S. officials. The yen pared its initial advance Monday morning, with early moves lower fading for the Australian and New Zealand dollars following the latest development in the trade war. The U.S. and China are hours away from a new round of tariffs on each other™s goods. The yen rose less than 0.1 percent to 112.54 per dollar as of 7:53 a.m....