MTECHTIPS;-Gold gains in Asia as weaker dollar aids buying, Wyoming

MTECHTIPS;-Gold gains in Asia as weaker dollar aids buying, Wyoming disappoints

MTECHTIPS-Gold prices gained slightly in Asia on Monday as investors noted the weaker dollar as central bank chiefs in Wyoming dodged policy discussions and the impact of Hurricane Harvey on the U.S. growth outlook was under review. Gold futures for December delivery rose 0.14% to $1,299.66 a troy ounce. This week, Friday’s U.S. jobs report for August is in focus to gauge how it will impact on the path of Fed policy. Traders will also be closely watching a revised reading of U.S. second quarter growth. Financial markets in the UK are closed on Monday. Last week, gold prices ended higher in a volatile session on Friday, reversing earlier losses as the U.S. dollar weakened after Federal Reserve Chair Janet Yellen’s speech at Jackson Hole didn’t specifically address monetary policy. Gold gained ground as the dollar fell after Yell en’s speech at the Jackson Hole economic symposium did not discuss the outlook for monetary policy, disappointing some investors who had hoped she would sound a hawkish tone. The dollar index has fallen around 10% so far this year amid ongoing uncertainty over the economic agenda of U.S. President Donald Trump and doubts that the Fed will deliver a third rate hike this year

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips