Gold soars in Asia on Fed rate views

September 13, 2016

On Tuesday, gold gained during early Asia trade with views on chances for an American rate lift next week squarely in focus. Additionally, Chinese optimistic data on industrial production shrugged off in the case ofВВВ copper.

In New York, December delivery gold futuresВВВ grew 0.74%, hitting $1,335.45 per troy ounce. At the same time December delivery silver futuresВВВ gained 1.63%, trading at $19.310 per troy ounce. As for December delivery copper futures, they moved down 0.14%, being worth $2.104 per pound ahead of closely-watched data sets from China, which is the world's number one copper importer.

Meanwhile, China reportedВВВ that fixed asset investmentВВВ for August edged up 8.1%, which is better than the 8.0% year-on-year revenue observed, while industrial productionВВВ soared 6.3%, beating an expected 6.1% year-on-year growth. As for retail sales, they moved up 10.6%, ahead of the 10.3% leap observed.

Overnight, gold prices slumped because views on the prospect for a lift in American interest rates took center stage.

Publication source
FBS information  FBS reviews

February 27, 2017
EURUSD dropping perfectly, remain bearish
Price is dropping nicely towards our profit target. We remain bearish below 1.0604 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance) for a further push down to 1.0494 (Fibonacci extension, horizontal support)...
February 27, 2017
Gold reached three-month highs
Spot gold remained on strong bullish footing on Friday. After an Asian flat the price got an upward impetus in the European morning...
February 24, 2017
Gold surges to major $1250 resistance as uncertainty prevails
Gold surged Thursday on a breakout of its previous consolidation to hit and slightly exceed major technical resistance at $1250, a level not seen since early November...

 FXTM Rating
FxPro Rating
Grand Capital Rating
FOREX.com Rating
Cms Trader Rating
OANDA Rating

365BinaryOption Rating
Binary.com Rating
TopOption Rating
OptionBit Rating
Migesco Rating
UKoptions Rating