GOLD

Gold advances as geopolitical uncertainty increases, China resumes purchases

Gold price (XAU/USD) nudges higher on Monday's early European session, favoured by its safe-aven status amid the increasing uncertainty in the Middle East after the fall of the Bashar al-Assad regime in Syria.

Beyond that, The People's Bank of China (PBoC) announced over the weekend that it resumed Gold purchases in November after a six-month pause, which is giving an additional boost to the precious metal.

Data from the US released on Friday revealed that the country's labour market remains solid, but the increasing unemployment rate confirmed expectations that the Federal Reserve (Fed) would cut rates by 25 bps next week. This, and a mild risk appetite, are keeping US Dollar upside attempts limited.
Gold price (XAU/USD) nudges higher on Monday's early European session, favoured by its safe-aven status amid the increasing uncertainty in the Middle East after the fall of the Bashar al-Assad regime in Syria.

Beyond that, The People's Bank of China (PBoC) announced over the weekend that it resumed Gold purchases in November after a six-month pause, which is giving an additional boost to the precious metal.

Data from the US released on Friday revealed that the country's labour market remains solid, but the increasing unemployment rate confirmed expectations that the Federal Reserve (Fed) would cut rates by 25 bps next week. This, and a mild risk appetite, are keeping US Dollar upside attempts limited.(Cay) Newsmaker23

Source: Fxstreet

Related News

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.

World Time