empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

2019.01.1414:42:00UTC+00Gold Settles Modestly Higher

Gold prices edged higher on Monday as the dollar eased and global stock markets turned weak after data showed a shock contraction in Chinese exports last month.

Weak economic data from Eurozone and recent comments from Federal Reserve officials, including Chairman Jerome Powell, that hint a pause in interest rate hikes also contributed to the yellow metal's uptick.

Stock markets had moved higher in recent sessions after Powell said the central bank would be flexible with regard to its monetary policy stance.

The dollar index futures for March were hovering around 95.10 an hour ago, down marginally from previous close.

Gold futures for February ended up $1.80, or 0.2%, at $1,291.30 an ounce.

On Friday, gold futures ended up $2.10, or 0.2%, at $1,289.50 an ounce, after having shed about 0.4% a session earlier.

Silver futures for March settled at $15.686 an ounce, down $0.030 from previous close.

Copper futures for March ended at $2.636, down $0.026 from Friday's close.

Data released by China's General Administration of Customs today showed exports and imports in December declined at the worst rates in two years, adding to evidence of a rapid slowdown in the economy amid the trade war with the US and weakening global activity.

Exports dropped 4.4% year-on-year in December, the data showed. That was in contrast to the 3% gain economists had predicted. Imports decreased 7.6% from a year ago, defying expectations for a 5% rise. Both exports and imports outcome was the worst since 2016. In December, the trade surplus was $57.1 billion.

In economic news from Eurozone, a preliminary report from the statistical office Eurostat showed Eurozone's industrial production decreased at a faster-than-expected pace in November. Industrial production decreased a seasonally adjusted 1.7% from October, when it edged up 0.1%, revised from 0.2%. Economists had expected a 1.5% slump.

On a year-on-year basis, industrial production fell a calendar adjusted 3.3% in November after a 1.2% increase. Economists had predicted a 2.1% slump.



You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off