Gold prices were firm near a 10-month peak on Thursday, with the dollar holding steady in the wake of minutes from the latest U.S. Federal Reserve meeting that rekindled expectations of a possible rate hike later in the year.
Currency Intervention
Gold Steady as Sino-U.S. Trade Hopes Drag Dollar
U.S. and Chinese officials expressed hopes that a new round of trade talks, which began in Beijing on Monday, would bring them closer to easing their nearly year-long trade war.
Gold Prices Hold Firm on Trade, Growth Concerns
Gold Silver Reports (GSR) – FUNDAMENTALS — Scrap gold supplies in India, the world’s second-biggest consumer of bullion, may increase this quarter as a rally in local gold prices has prompted consumers to sell old trinkets and jewellery.
Spot Gold Technical Report – Break Support $1280 – Neal Bhai
Gold Silver Reports (GSR) – Also supporting gold was a prolonged partial U.S. government shutdown and expectations that the Federal Reserve will hold its multi-year rate hike cycle, analysts said.
US President Donald Trump said on Saturday there has Been Progress toward a Trade Deal with China
Gold Silver Reports (GSR ) – Spot gold had risen 0.2 per cent to $1,282.71 per ounce by 0103 GMT, while US gold futures were steady at $1,282.50 per ounce.
ECB’s Nowotny: We Expect Positive Economic Outlook To Continue But Risks Exist
ECB’s Nowotny: Asked About Latest GDP Figures, Has Not Seen Anything That Would Require An Adjustment Of Monetary Policy Outlook
Five Questions for the ECB
Growing concern about the impact of trade tensions on the economic outlook, another spike in Italian borrowing costs, fraught Brexit talks and volatility in world markets make for a colorful backdrop to Thursday’s European Central Bank meeting.
Gold Slides Alongside Equities as Dollar Climbs – Gold Silver Reports
Gold fell alongside equity markets on Monday partly in response to gains in the dollar which is benefiting from a run of strong U.S. economic data reinforcing expectations of further interest rate rises.
Euro Slides After Italian Lawmaker Talks Up National Currency – Neal Bhai Reports
The euro fell to a six-week low on Tuesday after a senior lawmaker in one of Italy’s ruling parties said most of the country’s problems would be resolved if it readopted a national currency, triggering a broad market sell-off.
Gold Up But on Path for Longest Monthly Losing Streak in Two Decades – GSR
Gold inched higher but was on track for its longest monthly losing streak since January 1997 as the U.S. dollar firmed against the euro after Italy’s budget jitters threatened the European currency.