The US Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. Gold held firm on Wednesday after hitting a one-week high in the previous session, as traders awaited a decision on interest rates by the US Federal Reserve, which is expected to keep policy on hold. FUNDAMENTALS * Spot gold was little changed at USD 1,210.79 an ounce by 0054 GMT. US gold futures climbed 0.1 percent to USD 1,209.70. * Spot gold rose over 5 percent in January, its best month since June 2016 * The US Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. * The dollar suffered its worst January in three decades after President Trump complained that every "other country lives on devaluation." * The comments intensified expectations that the new US administration was making moves to talk down the greenback just hours after Trump's top trade adviser, Peter Navarro, told the Financial Times that Germany is using a "grossly undervalued" euro to gain advantage over the United States and its own European Union partners. * US consumer confidence retreated from a 15-year high in January, likely as some of the election euphoria fizzled, but households remained upbeat about the labor market, suggesting that the economy would continue to grow this year. * Some of Wall Street's largest fund managers have taken a contrarian bet on gold, wagering that US President Donald Trump's governing style and upcoming elections in Europe will combine to create more stock market volatility and boost the prices of a metal long seen as a safe haven. * US private equity firm Orion Mine Finance Group is in talks to sell a portfolio of 87 mining royalty, streaming and offtake assets, Orion portfolio manager Douglas Silver said on Tuesday. * Britain's economy now looks set to slow only slightly in 2017 after its resilient response to last year's Brexit vote, but growth is still likely to be a lot weaker than if the country had decided to stay in the European Union, a think tank said. * Inflation in the euro zone has risen to just below the European Central Bank's target, economic growth is accelerating at greater speed than in the United States, and unemployment has hit a more than seven-year low. If you want more information regarding the Market News & many other tips like Tradeindia Services , Intraday Tips , MCX Normal Calls , Indore Advisory Company , Bullion Market Tips , Share Market Services , NSE & BSE Market Tips , Free MCX Market Tips , MCX Premium Tips , Bullion Energy Tips , Commodity market tips , Give Miss call ☎ @ Toll Free Number 📲 18003157801
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2017
Categories |