🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

PRECIOUS-Gold flat as dollar strength counters safe-haven demand

Published 09/09/2020, 08:53 AM
Updated 09/09/2020, 09:00 AM
XAU/USD
-
XAG/USD
-
GC
-
SI
-
DXY
-

Sept 9 (Reuters) - Gold prices were steady on Wednesday as
the metal was caught between a strengthening U.S. dollar and a
pullback in global equities, with investors awaiting monetary
policy strategies from central banks.

FUNDAMENTALS
* Spot gold XAU= was little changed at $1,929.30 per ounce
by 0038 GMT, after falling to a near two-week week low of
$1,906.24 on Tuesday.
* U.S. gold futures GCv1 eased 0.3% to $1,936.80.
* The dollar .DXY jumped to a near one-month high, as the
pound dropped to a six-week low on renewed worries about Brexit
and as risk appetite waned. A stronger greenback makes gold more
expensive for holders of other currencies. USD/
* Asian stocks were set to come under pressure on Wednesday
after Wall Street sank for the third consecutive day.
MKTS/GLOB
* Britain will set out new details of its blueprint for life
outside the European Union on Wednesday, publishing legislation
a government minister acknowledged would break international law
in a "limited way" and which could sour trade talks.
* More than 27.47 million people have been reported to be
infected by the novel coronavirus globally and 893,290​ have
died, according to a Reuters tally. * Euro zone data showed its economy shrivelled slightly less
than initially estimated in the second quarter, but the drop was
still the sharpest ever as consumer spending slumped due to
COVID-19 restrictions. * Market participants are now waiting for the European
Central Bank policy meeting due on Thursday, while the U.S.
Federal Reserve's next meeting is scheduled for next week.
* U.S. Customs and Border Protection officials have prepared
orders to block imports of cotton and tomato products from
western China's Xinjiang region over allegations they are
produced with forced labour. * Silver XAG= fell 0.2% to $26.66 per ounce, platinum
XPT= was steady at $901.29 and palladium XPD= rose 0.2% to
$2,279.67.

DATA/EVENTS (GMT)
0130 China PPI, CPI YY Aug

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.