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MTECHTIPS:-Gold gains in Asia as busy policy, data week for markets kicks off

Monday, October 10, 2016 3:29
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MTECHTIPS:-Gold gains in Asia as busy policy, data week for markets kicks off

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MTECHTIPS- Gold prices gained in Asia on Monday with investors set for a busy week of policy views and the volatile race for the U.S. presidency with Donald Trump and Hillary Clinton slated for their second of three debates during the session and China markets re-opening after a week-long holiday. Gold for December delivery on the Comex division of the New York Mercantile Exchange rose 0.82% to $1,262.15 a troy ounce. Also on the Comex, silver futures for December delivery jumped 2.00% to $17.727 a troy ounce. Elsewhere in metals trading, copper for December delivery gained 0.18% to $2.172 a pound. Bank of Japan Governor Haruhiko Kuroda, Fed Vice Chairman Stanley Fischer and People’s Bank of China Governor Zhou Manchurian all made comments at the weekend, among others, on the policy outlook in Washington at at an IMF meeting. On Wednesday, attention turns to the minutes of the Federal Reserve’s September policy meeting for fresh clues on the timing of the next U.S. rate hike. U.S. retail sales data will also be in the spotlight, as investors attempt to gauge if the world’s largest economy is strong enough to withstand an increase in borrowing costs before the end of the year. In addition, there are a handful of Fed speakers on tap, including Chair Janet Yellen, as traders look for more clues on the likelihood of a December rate hike. Elsewhere, China is to release what will be closely watched trade and inflation data amid ongoing concerns over the health of the world’s second biggest economy.

 

WWW.MTECHTIPS.COM

 

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