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Gold prices inch down as traders await Brexit development
Gold prices inched down on Monday in Asia as traders awaited more clarity on Brexit developments.
British lawmakers voted on the weekend to delay a decision on UK Prime Minister Boris Johnson’s Brexit deal, forcing him to request a third postponement of Britain’s departure from the EU.
“If you actually trade gold, you can feel the lack of emotion in the markets these days as buying interes continues to run tepid,” said Axitrader market strategist Stephen Innes. “The expectation for weaker economic data and the current level of central bank policy response seems to be all factored into the current price, suggesting gold traders need a new catalyst.”
On the Sino-U.S. trade front, China’s Vice Premier Liu confirm that Beijing and Washington “have made substantial progress in many aspects” and that they have “laid an important foundation for a phase one agreement.”
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
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