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

PRECIOUS-Gold inches higher as dollar extends fall; focus on Fed minutes

Published 08/19/2020, 08:57 AM
Updated 08/19/2020, 09:00 AM
© Reuters.
XAU/USD
-
XAG/USD
-
GC
-
SI
-
DXY
-

Aug 19 (Reuters) - Gold prices edged higher on Wednesday,
holding above the key $2,000 per ounce pivot, supported by a
sagging dollar, while investors awaited minutes from the U.S.
Federal Reserve's last policy meeting later in the day.

FUNDAMENTALS
* Spot gold XAU= was up 0.1% at $2,002.12 per ounce by
0029 GMT, after hitting a one-week high of $2,014.97 on Tuesday.
* U.S. gold futures GCv1 eased 0.1% to $2,011.60 per
ounce.
* The dollar index .DXY fell for a sixth straight session,
down 0.1%, to hold near a more than two-year low hit in the last
session, making gold less expensive for holders of other
currencies. USD/
* U.S. Treasury yields edged lower as the market largely
snubbed strong housing data and looked for signs that a
political impasse over a new round of aid to bolster the
coronavirus-hit economy was easing. US/
* Asian equities were mostly firmer on Wednesday after a
strong Wall Street session in which the S&P 500 hit an all-time
high, rebounding from huge losses caused by the coronavirus
pandemic. MKTS/GLOB
* More than 22.03 million people have been reported to be
infected by the novel coronavirus globally and 774,989​ have
died, according to a Reuters tally. * Japan's exports fell 19.2% in July from a year earlier,
posting a fifth straight month of double-digit declines,
Ministry of Finance data showed. * Markets are looking to the release at 1800 GMT of the
minutes of the Fed's latest meeting that might give more clues
on the interest rate outlook.
* Silver XAG= rose 0.6% to $27.82 per ounce. Platinum
XPT= gained 0.2% to $958.33, and palladium XPD= edged 0.1%
to $2,190.98.

DATA/EVENTS (GMT)
0600 UK CPI YY July
0900 EU HICP Final MM, YY July
1800 US Federal Open Market Committee will release minutes
from its July 28-29 policy meeting

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.