Crude Oil
Crude oil prices dipped in early Asia on Monday with events in Ukraine the focus of possible new sanctions and China manufacturing data ahead and with markets in the U.S. and Canada closed for the Labor Day holiday. U.S. officials are working closely with the European Union to keep their Russia sanctions programs aligned in timing and severity. European Council President Herman Van Rompuy said the bloc wouldn't set out specific criteria for triggering fresh sanctions but said there was "determination" to ensure Russia paid an appropriate price for heightening tensions.
Gold
Gold prices rose in Asia on Monday after manufacturing data pointed to steady demand and on possible new sanctions on Russia and with markets in the U.S. and Canada closed for the Labor Day holiday. Gold prices higher in Asia after China HSBC PMI shows steady demand Gold prices up in Asia The HSBC final manufacturing PMI came in at 50.2, just below the 50.3 expected. U.S. officials are working closely with the European Union to keep their Russia sanctions programs aligned in timing and severity. In the week ahead, trading volumes are likely to remain light on Monday, with U.S. markets closed for the Labor Day holiday. Investors will be focusing on Thursday’s outcome of the ECB’s monthly monetary policy meeting, as well as Friday’s closely watched U.S. nonfarm payrolls report. Monetary policy announcements by central banks in Australia, Japan, Canada and the U.K. will also be awaited.
