Gold prices rebound cautiously in Asia
On Monday, gold rebounded cautiously during Asia trade, following poor GDP figures from Japan. The data suggested ongoing easy monetary policy. Traders looked ahead to Fed minutes a bit later this week for further directions.
In New York, December delivery gold futures edged up 0.07%, hitting $1,344.15 per troy ounce. Simultaneously, September delivery silver futures edged up 0.54% at $19.810 per troy ounce, while September delivery copper futures gained 0.66%, trading at $2.150 a pound.
The US dollar index, normally gauging the greenback’s strength against a trade-weighted basket of six counterparts, grew 0.05%, trading at 95.75.
This week, market participants will wait for Wednesday’s minutes of the Federal Reserve’s July policy gathering for fresh clues on the timing of the next American rate soar as well as American inflation data.
Elsewhere, in Great Britain traders will be looking ahead to reports on employment, consumer prices and also retail sales for further clues on the continued effect that the Brexit decision is having on the British economy.