Profile image
Story Views

Last Hour:
Last 24 Hours:

MTECHTIPS;-Gold down slightly in Asia on Mester views, U.S. public holiday ahead

Monday, February 20, 2017 2:56
% of readers think this story is Fact. Add your two cents.

MTECHTIPS;-Gold down slightly in Asia on Mester views, U.S. public holiday ahead



MTECHTIPS- Gold prices eased slightly in Asia on Monday after a further signal that a rate hike in March is a solid possibility in otherwise light trade with U.S. markets shut for a holiday. Gold for February delivery eased 0.37% to $1,234.555 on the Comex division of the New York Mercantile Exchange. Copper rose 0.30% t$2.716 a pound as concerns over supply disruptions persist. A strike at BHP Billiton (LON:BLT)’s Escondida in Chile, the world’s largest copper mine, has boosted sentiment as has an output halt at Freeport-Moran’s giant Grasberg mine in Indonesia. In Singapore, Cleveland Federal Reserve President Loretta Mester said on Monday she would be comfortable raising interest rates at this point if the economy kept performing the way it did. “We did have a temporary oil price shock which held down inflation, we had the dollar appreciation which held down inflation. Those have passed through and the trend in inflation is, it’s moving up,” Mester said at a central banking seminar. In the holiday shortened week ahead, the Fed is to publish the minutes of its February meeting on Wednesday, which will be scrutinized for clues on the timing of the next rate hike. Investors will be looking to U.S. housing data in order to see whether the rise in consumer spending and inflation is translating into higher house prices and a pick-up in home sales. Markets will also be watching survey data on private sector activity in the euro zone on Tuesday


MTECHTIPS-Apply For 2 Days Free Trails equity & commodity tips





We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.