💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

PRECIOUS-Gold inches lower on caution ahead of Trump-Biden debate

Published 09/30/2020, 08:57 AM
Updated 09/30/2020, 09:00 AM
© Reuters.
XAU/USD
-
XAG/USD
-
GC
-
SI
-
DXY
-

Sept 30 (Reuters) - Gold edged lower in early Asian trade on
Wednesday with cautious investors awaiting key takeaways from
the first U.S. presidential debate, while optimism over hopes of
a U.S. coronavirus aid deal limited losses.

FUNDAMENTALS
* Spot gold XAU= was down 0.1% at $1,896.03 per ounce by
0034 GMT, having earlier hit a one-week high of $1,899.12.
* U.S. gold futures GCv1 were down 0.1% at $1,889.70.
* The dollar index .DXY was down 0.1% against rivals.
USD/
* U.S. President Donald Trump and Democratic candidate Joe
Biden will begin shortly their first presidential debate.
* U.S. House Speaker Nancy Pelosi said on Tuesday she hoped
to have a coronavirus aid deal with the White House this week,
after speaking with Treasury Secretary Steve Mnuchin.
* The U.S. recovery from the coronavirus-linked recession
has been more robust than expected, New York Federal Reserve
President John Williams said on Tuesday, though he added it
could be about three years before the economy regains its full
strength. * Britain's House of Commons approved a legislation on
Tuesday that gives ministers the power to break its divorce deal
with the European Union, despite the threat of legal action from
Brussels and unrest within the governing Conservative
Party. * The global coronavirus death toll surpassed a million on
Tuesday, according to a Reuters tally. * Silver XAG= rose 0.2% to $24.22 per ounce, platinum
XPT= fell 0.1%, to $883.25 and palladium XPD= gained 0.5% to
$2,319.59.

DATA/EVENTS (GMT)
0100 China NBS Manufacturing PMI Sept
0145 China Caixin Mfg PMI Final Sept
0600 UK GDP QQ, YY Q2
0600 UK Nationwide House Price MM, YY Sept
0645 France CPI (EU Norm) Prelim YY Sept
0855 Germany Unemployment Chg, Rate SA Sept
1230 US GDP Final Q2

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.