Investors await U.S. Fed meeting starting on Tuesday, China's November imports rose, SPDR Gold holdings fell 0.3% on Friday; lowest since Sept. Gold was steady on Monday as investors await cues from the U.S. Federal Reserve on interest rates later this week, while trying to size up the chances of a new round of U.S. tariffs on Chinese goods. Spot gold was flat at $1,460 per ounce U.S. gold futures was flat at $1,464.50.
The U.S. Fed will meet on Dec.10-12 for an interest rate decision and investors were likely to focus on the outlook for next year and beyond. A strong U.S. jobs data last week has renewed bets that the Federal Reserve would stand pat on interest rates. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. Meanwhile, the Dec. 15 deadline is still in place for a new round of U.S. tariffs on about $156 billion worth of Chinese imports.
Gold has gained more than 13% so far this year after the Fed cut rates three times this year on the backdrop of the U.S.-China trade war and its impact on economy. "If the tariffs go into effect into the weekend gold then looks decidedly cheap and we might see an upside breakout,"
14 Aug 2020 04:44 PM
Indian shares settled lower for a third consecutive session on Friday, dragged by financial stocks as new quarantine restrictions from Britain and weak economic data from China hurt global investor sentiment.
14 Aug 2020 02:45 PM
The Indian rupee was little changed against the dollar this week, as likely intervention by the country’s central bank countered the impact of inflows
14 Aug 2020 11:50 AM
Indian shares rose on Friday, powered by drug stocks and heavyweight Reliance Industries, as hopes of more economic relief measures to blunt the impact of the COVID-19 pandemic boosted sentiment.
14 Aug 2020 11:15 AM
The yuan eased against the dollar in thin trade on Friday, with investors avoiding huge bets on the local currency ahead of a meeting of U.S. and Chinese trade officials.
14 Aug 2020 10:50 AM
Gold fought for traction on Friday as a jump in U.S. Treasury yields forced investors to reassess their positions again after a steep retreat from a record peak earlier this week, which put bullion on course for its first weekly fall since early June
14 Aug 2020 10:34 AM
The Indian rupee was at 74.82/74.83, against 74.84/74.85 in the previous session