MTECHTIPS;-Gold dips slightly in Asia as risk, data events in focus

MTECHTIPS;-Gold dips slightly in Asia as risk, data events in focus

MTECHTIPS- Gold prices dipped slightly in Asia on Monday ahead of a busy weak of data and political risk events. Gold for April delivery eased 0.03% to $1,250.95 a troy ounce on the Comex division of the New York Mercantile Exchange. Copper fell 0.26% to $2.649 a pound as labor disruptions at mines in Chile, Peru and Indonesia get resolved. In a busy Asian data day, Australia reported the AIG manufacturing index for March eased to 57.5 from 59.3, still solidly in expansion, while Japan’s Lankan large manufacturers survey showed a rise to plus-12 from plus-10. Ahead in Australia come first quarter and building approvals and retail sales for February with a 0.5% decline and 0.3% rise expected respectively. Also on Monday, financial markets in Shanghai will be closed for a holiday and later in the U.s. New York Fed President William Dudley, Philadelphia Fed President Patrick Marker and Richmond Fed President Jeffrey Lacker are all set to speak. In the week ahead, investors will be looking to Wednesday’s Fed minutes for fresh indications on the timing of the next U.S. rate hike ahead of Friday’s closely watched nonfarm payrolls report and a meeting between Chinese President Xi Jinping and U.s. President Donald Trump in Florida.
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