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Gold Treads Water Before Fed Meeting, Trade Deadline


Wednesday, 11 December 2019 12:48 WIB

GOLDEMAS


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Gold held a modest advance as traders awaited the Federal Reserve's final gathering of the year, while weighing the latest smoke signals on the trade front in the countdown to the next set of U.S. levies on Chinese goods. Palladium was near a record as platinum fell.

Bullion kept to a narrow range of about $2, with Fed Chairman Jerome Powelland his colleagues expected to leave interest rates unchanged on Wednesday after cutting them at three consecutive meetings.

While Chinese officials expect President Donald Trump to delay the tariff increase threatened for Sunday, giving more time to negotiate an interim accord, White House Trade Adviser Peter Navarro said he had no indication that the levies won't be implemented.

Spot gold little changed at $1,463.49/oz at 12:46pm in Singapore; +0.2% on Tuesday. Prices +14% YTD.

Source : Bloomberg


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