However,
Gold been falling off two:
Gold prices slightly bent on Monday, while the dollar resumed colors. Similarly, Anticipations of decreasing American interest rates. Therefore, fueled by the accommodating tone of the president of the Federal Reserve Jerome Powell, however allowed the precious metal to limit his losses.
Fundamental
* The cash in cash sold 0.2 % to 3,364.25 dollars per ounce at 01:09 GMT, after having reached its highest level on Friday since August 11. Therefore, The long -term contracts on American gold for delivery in December fell 0.3 % to 3,409.80 dollars.
* The US dollar index increased by 0.2 % against a basket of competing currencies, after hitting a hollow of four weeks. Moreover, This increase makes gold less attractive for foreign buyers. [USD/]
* Friday. Jerome Powell suggested that a drop in rates could occur at the next meeting of the American Central Bank, evoking gold been falling off two a rise in risks weighing on the job market, while stressing that inflation was still a threat and that no decision was still taken.
* According to the CME Fedwatch tool. the markets now anticipate 87 % the probability of a drop of 25 basic points at the monetary policy meeting on September 17, and a total of 48 points of reduction base by the end of the year.
* Gold tends to appreciate when anticipation of lower interest rates increase. as this reduces the opportunity cost of the holding of ingots that do not generate yield.
* Asian stock markets jumped on Monday, investors welcoming the prospect of recovery of rate reductions in the United States.
* Investors are now waiting for the publication on Friday of the consumer price index of American households. which should report an increase in inflation underlying 2.9 %, its highest level since the gold been falling off two end of 2023.
* The physical demand for gold remained moderate last week in the main Asian centers. the volatility of prices holding buyers away. In India, jewelers have however resumed their purchases in anticipation of the festival season. [GOL/AS]
* On the other markets, cash in cash fell 0.2 % to 38.09 dollars per ounce, the plate lost 0.3 % to 1,356.95 dollars and palladium slipped from 0.6 % to 1,119.67 dollars.
Data/events (GMT)
05h00 Japan Advanced indicator revised June
8:00 am Germany IFO index of the August Affairs Climate
8:00 am Germany IFO Current Conditions. August expectations
2:00 p.m. United States Sales of new houses (units) July
Gold been falling off two
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