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The price of gold rose slightly, and investors were supported by low buying.

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发表于 2018-9-27 16:07:11 | 显示全部楼层 |阅读模式
Gold prices rose slightly in early trading on Thursday, thanks to investors' bargain-hunting after the price of gold fell to a two-week low as the Fed raised its interest rate on the previous day.
At 0057GMT, spot gold XAU= rose 0.2% to $1,196.21 an ounce, hitting a low of $1,190.13 on September 11th.

US gold futures GCcv1 rose 0.1% to $1,200.40 an ounce.

Gold prices are more sensitive to rising interest rates, as rising interest rates tend to boost the dollar, thereby increasing the cost of gold buyers holding other currencies.

The dollar was steady against other major currencies in early Asian trading on Thursday. The small boost that was previously lifted by the Federal Reserve's (Fed) rate hike has now subsided, and the decline in US Treasury yields has reduced support for the dollar.
The Fed’s plan to raise interest rates as expected and maintain a steady monetary policy is unchanged, as the US economy is expected to grow at least three years. In a policy statement that ended the era of “loose” monetary policy, Fed policymakers raised the index overnight lending rate by 0.25 percentage points to the 2.00-2.25% range.
The executive meeting of the State Council of China decided on Wednesday to reduce the import tariff rate of 1,585 tax items for industrial products in order to adapt to industrial upgrading and reduce corporate costs.
After a two-month decline in sales of single-family new homes in the United States, it rebounded in August, but in the case of mortgage interest rates and rising house prices, the basic trend still indicates that the housing market is weak.
British Prime Minister Teresa May (Theresa May) office said on Wednesday that Teresa May and US President Trump discussed that they will reach a "grand and ambitious" trade agreement after the Brexit. Matters.

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