Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Gold Prices Slip and Remain Below $1,500 Level; All Eyes on ECB

Published 09/11/2019, 12:52 AM
© Reuters.

Investing.com - Gold prices slipped on Wednesday in Asia and remained below the $1,500 level as traders awaited the upcoming European Central Bank (ECB) monthly meeting.

Gold Futures for December delivery slipped 0.1% to $1,498.35 per ounce by 12:42 AM ET (04:42 GMT) on the Comex division of the New York Mercantile Exchange.

The outcome of the ECB’s monthly meeting is expected to have an impact on gold prices later this week, as some expect a rate reduction from the central bank as part of a broader package to stimulate the eurozone economy.

“The ECB is expected to reduce further the interest rate into negative territory… The meeting could serve as a potential catalyst (for gold) and investors are already buying into the rate cut expectations,” said Margaret Yang Yan, a market analyst at CMC Markets, in a Reuters report.

Meanwhile, Sino-U.S. trade tension eased somewhat after China reportedly offered to buy more U.S. agricultural products in exchange for a delay in tariffs. It also asked for easing of a supply ban against Huawei.

Meanwhile, Hu Xijin, editor-in-chief of the state-owned Global Times newspaper, said today that China will introduce “important measures” to deal with the negative impact brought by the trade war.

"The measures will benefit some companies from both China and the U.S.," he said on Twitter without further elaborating.

Latest comments

Install Our App
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.