Gold moves higher – ING

Source Fxstreet

Gold is moving higher again as Trump’s Tehran warning has sparked haven buying. Prices rose above $3,400/oz in early Asian trading on Tuesday after a 1.4% slide on Monday – the biggest one day decline in a month, ING's commodity experts Ewa Manthey and Warren Patterson note.

US Federal Reserve meeting to be in focus on Wednesday

"The focus for the Gold market will remain on geopolitical tensions in the Middle East. With uncertainty lingering, safe-haven bid for Gold is likely to be supported. Prices gained almost 4% last week as the conflict in the Middle East escalated."

"Meanwhile, exchange-traded funds added 136,032 troy ounces of Gold to their holdings in the last trading session. This brought this year’s net purchases to six million ounces (according to Bloomberg). SPDR Gold Shares, the largest Gold ETF, saw a $285m inflow on Friday, its biggest in weeks."

"Later this week, the US Federal Reserve meeting will be in focus on Wednesday, where it is expected to hold interest rates steady."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Ripple’s $21 Trillion Dream: What Capturing 20% Of SWIFT Volume Means For XRPRipple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
Author  NewsBTC
7 Month 14 Day Mon
Ripple Labs, a crypto payments company, continues to set its ambitions and those of XRP higher than ever as it edges closer to disrupting the global financial messaging giant SWIFT. After Ripple CEO
placeholder
Stocks Climb, Euro Strengthens After US-EU Trade AccordGlobal equities advanced and the euro strengthened on Monday as the United States and the European Union reached a pivotal trade accord, boosting investor sentiment amid a week packed with crucial central bank meetings by the Federal Reserve and the Bank of Japan.
Author  Mitrade
Yesterday 06: 08
Global equities advanced and the euro strengthened on Monday as the United States and the European Union reached a pivotal trade accord, boosting investor sentiment amid a week packed with crucial central bank meetings by the Federal Reserve and the Bank of Japan.
placeholder
Samsung to Manufacture Tesla’s AI6 Chips in $16.5B Deal, Musk ConfirmsTesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.
Author  Mitrade
Yesterday 08: 01
Tesla CEO Elon Musk announced on Monday that the company has signed a $16.5 billion chip supply deal with Samsung Electronics, a move that could revitalize Samsung’s struggling contract chip manufacturing business. The agreement designates Samsung to produce Tesla’s upcoming AI6 chips, which are expected to power future versions of the automaker’s autonomous driving technology.
placeholder
Bitcoin Climbs to $119.5K on Trade Optimism, Eyes on Fed and Crypto Policy UpdateBitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.
Author  Mitrade
Yesterday 08: 00
Bitcoin edged higher on Monday, reaching above $119,000 after rebounding from recent lows. The gains were fueled by improved market sentiment following the announcement of a new U.S.–EU trade agreement, which helped boost risk appetite across financial markets.
placeholder
Gold Slides on US-EU Trade Deal Boosting Risk Appetite Gold prices steadied during Monday’s Asian trading session after slipping for three straight days. The recent U.S.-European Union trade agreement improved investor sentiment, diminishing the appeal of gold as a safe-haven asset.
Author  Mitrade
Yesterday 09: 13
Gold prices steadied during Monday’s Asian trading session after slipping for three straight days. The recent U.S.-European Union trade agreement improved investor sentiment, diminishing the appeal of gold as a safe-haven asset.
Related Instrument
goTop
quote