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Gold Takes Aim at $1,300 as Fed Minutes Punish Dollar


Thursday, 10 January 2019 09:19 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold held an advance near $1,300 an ounce after the minutes from the last Federal Reserve meeting in December revealed policy makers took a more cautious approach to further rate increases, hurting the dollar.

Spot gold steady at $1,293.19/oz at 9:50am in Singapore, after gained 0.6% Wednesday: Bloomberg generic pricing.

Last week, bullion for immediate delivery rose to as much as $1,298.60/oz, while futures briefly topped $1,300.

Bloomberg Dollar Spot Index little changed after lost 0.7% Wednesday to lowest since Sept. 26.

Investors are also monitoring developments after U.S.-China trade talks. The Trump administration is pushing for a way to make sure Beijing delivers on its commitments in any deal the two nations reach to defuse a trade war that has roiled financial markets and hurt the outlook for global growth.

Adding to political concerns, President Donald Trump stormed out of a meeting with congressional leaders Wednesday as talks to end a nearly three-week government shutdown collapsed, with the two sides far apart on finding a solution to a dispute on border wall funding.

Source: Bloomberg


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