Gold traded almost steady on Wednesday as investors awaited the U.S. Federal Reserve’s monetary policy decision later in the day, while expectations of an improvement in trade relationship between the United States and China dented the metal’s appeal.
Global Economic
U.S. Treasuries Continue to Gain ahead of weekly initial Jobless Claims, 30-year auction
The U.S. Treasuries continued to gain during Thursday’s afternoon session, ahead of the country’s weekly initial jobless claims, scheduled to be released today by 12:30GMT, and the super-long 30-year Note auction, also due later today by 17:00GMT.
Labour Market Overview, UK: June 2019
The UK employment rate was estimated at 76.1%, higher than a year earlier (75.6%) and the joint-highest on record.
Fed Rate Way too High – Donald J. Trump ✔
The Euro and other currencies are devalued against the dollar, putting the U.S. at a big disadvantage. Fed rate way too high
Gold Futures Prices Zoom as a Report That Showed Much Weaker-Than-Expected U.S. Jobs Growth in May
Gold futures prices zoom on Friday as a report that showed much weaker-than-expected U.S. jobs growth in May month contributed to declines in the dollar and Treasury yields.
European Central Bank (ECB) said it would Delay its First Post-Crisis interest Rate Hike until at Least the Middle of Next Year.
Gold Silver Reports (GSR) – The euro climbed higher against the U.S. dollar on Thursday, after the European Central Bank (ECB) said it would delay its first post-crisis interest rate hike until at least the middle of next year. In a move that was well-flagged, ECB President Mario Draghi also offered to pay banks if they borrow cash from the central bank and pass it on to households and firms.
India’s Central Bank Faces Calls for Rate Cuts – Gold Silver Reports
Gold Silver Reports (GSR) – Growth cooled to 5.8% in the first three months of the year, the slowest pace in several quarters, according to a government report on Friday. That took the expansion in the fiscal year to March 2019 to 6.8%, lower than the 6.9% median estimate in a Bloomberg survey.