Gold Silver Reports (GSR) — Fed’s Kashkari: Rate hike pause keeps U.S. growth on track — The Federal Reserve’s decision to stop raising interest rates puts a “fundamentally healthy” U.S. economy on track to further growth, Minneapolis Federal Reserve Bank President Neel Kashkari suggested on Sunday.
Monetary / Fiscal Policy / Policy Makers
Crude Prices up 1 Percent on Supply Report
International Brent crude oil futures were up 67 cents, or 1.1 percent, at $62.17 a barrel by 1230 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by 51 cents, or nearly 1 percent, to $53.52.
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.
Gold Bounces as Mounting Concerns of an Economic Slowdown
Gold Silver Reports (GSR) – Spot gold was up 0.3 percent at $1,282.80 an ounce at 1323 GMT, recovering from a dip on Monday to its lowest since Dec. 28 at $1,276.31. U.S. gold futures were little changed at $1,282.
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.
U.S. Federal Reserve is Expected to Raise Interest Rates, But may cut the number of hikes in 2019
The central bank is due to announce its decision at 2 p.m. EST (1900 GMT) after its final two-day policy meeting of the year. Fed Chairman Jerome Powell is scheduled to hold a press conference half an hour later.
Gold Slip on Profit Taking, Firm Dollar – GSR
Spot gold fell 0.2 percent to $1,235.57 per ounce at 0823 GMT, while U.S. gold futures were 0.1 percent lower at $1,240.8 per ounce.
Rupee Slump to Push India to Seek Yuan Trade Settlement
The plan would enable direct convertibility between the rupee and yuan and will help cut transaction and hedging costs, the people said, asking not to be identified citing rules. The proposal would allow Indian exports of pharmaceuticals, oilseeds and sugar to China to be settled in rupee, while keeping out trade in high volume products such as electronics, they said.
Narendra Modi Urges Oil Suppliers to Review Payment Terms to Give Rupee Relief – Gold Silver Reports
Indian Prime Minister Narendra Modi urged global oil suppliers on Monday to review payment terms in order to give relief to the country which is struggling with a weakening currency.
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.