Breaking News
0

Gold prices dip in Asia with Fed minutes eyed for policy views

CommoditiesJan 03, 2017 09:15PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Gold prices dip in Asia

Investing.com - Gold prices eased in Asia as a strong dollar weighed and investors awaited further clues on the greenback from Federal reserve minutes due to be released later in the day.

On the Comex division of the New York Mercantile Exchange gold for February delivery fell 0.26% to $1,159.00 a troy ounce, while silver futures eased 0.10% to $16.392 a troy ounce. Copper futures dipped 0.24% to $2.481 a pound.

Overnight, gold prices rose despite a stronger dollar against a basket of currencies surging to a 14-year high. Gold is prices in dollars, making it potentially more expensive countries such as India and China, the top buyers globally. At its December meeting the Fed raised interest rates for the first time in a year and forecast as many as three hikes in 2017, making the tone of the discussion of high interest to markets.

Financial media, meanwhile, is reporting that there may be a new vice chairman of the Fed soon. The name of John Allison is being touted in Washington as a possible Fed nominee by President-elect Donald Trump.

Allison may be named for a Federal Reserve Board of Governors vacancy that would make him "vice chairman and head of banking regulation," a position left technically unfilled since it was mandated by the Dodd-Frank banking reforms, analysts said.

Allison was CEO of BB&T (NYSE:NYSE:BBT) from 1989 to 2008 who kept the institution out of trouble when the financial crisis hit in 2008, and after that he worked with the libertarian Cato Institute think tank, where he currently serves on the board after being president and CEO from October 2012 to April 2015. The think tank is located in Washington D.C. and is considered the "laissez-faire brain trust" of the Republican Party.

For 2017, the Fed voters are: Janet Yellen, Board of Governors, Chair; Lael Brainard, Board of Governors; Stanley Fischer, Board of Governors & Vice Chairman; Jerome Powell, Board of Governors; Daniel Tarullo, Board of Governors; William Dudley, New York; Charles Evans, Chicago; Patrick Harker, Philadelphia; Robert Kaplan, Dallas; and Neel Kashkari, Minneapolis.

Gold prices dip in Asia with Fed minutes eyed for policy views
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with 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
  • 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.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
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
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email