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Gold Slips As Dollar Holds Gains Amid Economic Uncertainty
(RTTNews) - Gold prices inched lower on Friday as the dollar held gains amid uncertainty over how big will future U.S. rate hikes be.
Spot gold dipped 0.3 percent to $1,753.91 per ounce, while U.S. gold futures were down 0.2 percent at $1,767.20.
The dollar held near a one-month high after three Fed policymakers took a hawkish tone on interest-rate hikes.
St Louis Fed president James Bullard said he expects a third straight 75-basis-point interest rate hike in September, while San Francisco Fed colleague Mary Daly said that raising rates by 50 or 75 basis points next month would be "reasonable".
Kansas City Fed president Esther George noted that the drop in inflation registered in July was not evidence the underlying problem was fixed.
Inflation worries were back in focus after data showed Germany's producer price inflation accelerated unexpectedly to a new record high in July, primarily driven by higher energy costs.
Producer prices grew 37.2 percent year-over-year in July, well above the 32.7 percent surge in June, Destatits reported.
The upward trend in July was largely caused by a 105.0 percent jump in energy prices amid soaring natural gas and electricity costs.
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China Stock Market Due For Consolidation
The China stock market has moved higher in four straight sessions, advancing almost 160 points or 4.4 percent along the way. The Shanghai Composite Index now sits just above the 3,880-point plateau although it may see profit taking on Tuesday.
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15 मिनटों पहले
Taiwan Bourse May Hand Back Monday's Gains
The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday.
The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.
For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02.
Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.
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Singapore Stock Market Tipped To Open In The Red
The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday.
The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.
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1घंटे 15 मिनट पहले
Rally May Stall For Malaysia Stock Market
The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday.
The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.
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1घंटे 45 मिनट पहले
Japan Stock Market May Spin Its Wheels On Tuesday
The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday.
The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.
The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies.
For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42.
Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.
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2घंटे 0 मिनट पहले
KOSPI May Run Out Of Steam On Tuesday
The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday.
The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.
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2घंटे 15 मिनट पहले
RBA Minutes On Tap For Tuesday
The Reserve Bank of Australia will on Tuesday release the minutes from its August 12 monetary policy meeting, highlighting a modest day for Asia-Pacific economic activity.
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3घंटे 15 मिनट पहले
U.S. Dollar Climbs Against Majors
The U.S. dollar strengthened against its major counterparts in the New York session on Monday.
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4घंटे 27 मिनट पहले
