Sign up to create alerts for Instruments,
Economic Events and content by followed authors
Free Sign Up Already have an account? Sign In
Quotes
All Instrument Types
- All Instrument Types
- Indices
- Equities
- ETFs
- Funds
- Commodities
- Currencies
- Crypto
- Bonds
- Certificates
Please try another search
Last Call for Cyber Monday! Save Now on Claim 60% OFF
Gold Dips In Asia In Light New Year Trade With Focus On Fed Minutes
Published Jan 01, 2018 09:05PM ET
© Reuters.
Investing.com - Gold eased slightly in Asia on Tuesday in light trade with Tokyo markets shut and the focus ahead on the Fed minutes later this week.
Gold futures for February delivery slipped 0.04% to $1,308.80 a troy ounce on the Comex division of the New York Mercantile Exchange.
Market watchers will also focus on Wednesday’s minutes of the Fed’s December policy meeting for further hints on the future path of monetary policy.
Last week, a weaker dollar helped propel gold prices to a three-month high back above the $1,300 level on Friday in the final trading day of 2017.
For the year, the precious metal gained 14%, the largest yearly percentage gain since 2010.
Recent weakness in the dollar has supported gold prices by making the dollar-denominated metal cheaper for holders of other currencies.
The dollar fell to its lowest levels in more than three months against a basket of the other major currencies on Friday and posted its largest annual percentage decline since 2003.
The index started 2017 at a 14-year high, boosted by hopes for U.S. President Donald Trump’s pro-growth economic agenda. But barring a sweeping tax overhaul enacted last week, the Trump administration has struggled to pass legislation.
The dollar also lagged despite the Federal Reserve’s rate increases amid increased investor expectations for other central banks to reduce their stimulus.
Geopolitical risks also remain a focus for gold buyers, as gold is a haven asset that many investors favor when they think markets might turn rocky.
Related Articles
Add Chart to Comment
Confirm Block
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
Report this comment
I feel that this comment is:
Comment flagged
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.