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| Commodity News |
| HeadLine : |
Gold Prices Gain In Asia On Weaker Dollar, Markets Eye US Budget Process |
| Date : |
Jan 19 2018 |
Gold prices gained in Asia today as a weaker dollar brought physical demand into the market.Gold futures for February delivery on the Comex division of the New York Mercantile Exchange rose 0.29% to $1,331.10 a troy ounce. The US dollar index fell 0.04% to 90.27 as the US House of Representatives passed a stopgap funding bill for the government, but the Senate may be harder to reach a deal and President Trump has how own concerns.Gold prices eased from four-month highs as US yields rose sharply after strong growth data from China and amid expectations that inflation would soon gather pace.
Yields on United States 10-Year reached a ten-month high amid strong China economic growth data and rising expectations for faster inflation growth, which pressured gold prices to retreat from four-month highs.Traders remain bullish on the yellow metal as data last week showed they increased their bullish bets on gold for the fourth-straight week.
Source: Investing.com
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