Close

BBB A Rated

ANA Member

Toll Free: 855-221-7780

Direct: (407) 244-5742


From our blog

Gold Recovers From 2-Wk Low On Softer Dollar

Kitco News






 Oct 24 (Reuters) - Gold edged up on Tuesday, recovering from a more than two-week low hit in the previous session, on the back of a slightly weaker dollar.

FUNDAMENTALS

* Spot gold was up 0.1 percent at $1,283.36 an ounce by 0043 GMT. It hit its lowest since Oct. 6 at $1,271.86 in the previous session.

* U.S. gold futures for December delivery rose 0.3 percent to $1,284.80 per ounce.

* The dollar index was down 0.1 percent at 93.788. The dollar slipped 0.1 percent to 113.35 yen after touching an over three-month high in the previous session.

* U.S. President Donald Trump will urge President Xi Jinping to make good on his commitments to pressure North Korea when he visits China next month, a senior White House official said on Monday, stepping up a strategy to have Beijing help rein in Pyongyang.

* Trump on Monday dismissed the possibility of curbing a popular tax-deferred U.S. retirement savings programme to help pay for his sweeping tax cuts, and voiced doubts about adding another top bracket targeting the wealthiest Americans.

* Trump told reporters on Monday he is "very, very close" to making his decision on who should chair the Federal Reserve.

* The Fed will raise interest rates in December and twice next year, according to a Reuters poll of economists, who now worry that the central bank will slow its tightening because of expectations that inflation will remain low.

* Bank of England Deputy Governor Jon Cunliffe again raised doubts about whether he will back an interest rate rise next week, describing it as an "open question" in an interview published by a Welsh newspaper on Monday.

* Catalonia said on Monday it was confident all officials including police would defy attempts by Madrid to enforce direct rule on the region in a dispute that is raising fears of unrest among Spain's European allies.

* South Africa's Gold Fields said its third-quarter gold output rose 3 percent compared with previous quarter, buoyed by a 10 percent surge in production at their South Deep mine.

DATA/EVENT AHEAD (GMT)

0645 France Business climate Oct

0700 France Markit manufacturing PMI flash Oct

0730 Germany Markit manufacturing PMI flash Oct

0900 Euro zone Markit manufacturing PMI flash Oct

1345 U.S. Markit manufacturing PMI flash Oct

(Reporting by Apeksha Nair in Bengaluru; Editing by Subhranshu Sahu)

Accreditations

Contact Us