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MTECHTIPS:-U.S. crude stocks up 14.420 mn barrels vs forecast rise 1.013 mn

Thursday, November 3, 2016 6:44
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MTECHTIPS:-U.S. crude stocks up 14.420 mn barrels vs forecast rise 1.013 mn




MTECHTIPS- Gold prices fell in Asia on Thursday as expectations of a Fed rate hike by the end of the remained intact following the latest policy review.Gold for December delivery on the Comex division of the New York Mercantile Exchange fell 0.68% $1,299.25 a troy ounce. Also on the Comex, silver futures for December delivery fell 0.78%$ to $18.547 a troy ounce and copper futures rose 0.14% to $2.223 a pound. The Federal Reserve said the case for a rate hike by the end of the year remains in place as it held rates steady as expected on on Wednesday, adding few tweaks to its statement that still short of sending a very strong signal. The Federal Open Market Committee voted 8 to 2 to continue targeting the 0.25% to 0.50% range for the fed funds rate, where it has been since liftoff last December. Overnight, gold prices added to overnight gains during North America’s session on Wednesday, rising above the key $1,300-level for the first time since early October as the possibility of a victory for Donald Trump in next week’s U.S. presidential election boosted demand for safe-haven assets. On Tuesday, prices of the yellow metal surged $14.90, or 1.17%, as investors were rattled by signs the U.S. presidential election race was tightening less than a week before the November 8 vote.Two separate polls showed Donald Trump moving slightly ahead of Hillary Clinton, as enthusiasm for the Democratic candidate has ebbed since the renewal of the  FBI’s email investigation late last week.





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