Comments
Gold prices nudged lower early Thursday, after gaining nearly one per cent in the previous session on weaker US economic data and concerns by some Federal Reserve policymakers about lower inflation.
Spot gold was down 0.1 per cent at $1,290.74 per ounce by 0109 GMT. US gold futures for December delivery edged 0.1 per cent lower at $1,290.70.
Fed policymakers views
Many Federal Reserve policymakers expect that interest rates will have to be raised in the “near term,” according to the minutes of the US central bank's last policy meeting released on Wednesday.
However, some members expressed concern over the inflation outlook and emphasised they would be looking at upcoming economic data before deciding the timing of future rate rises.
US-made capital goods orders
New orders for key U.S.-made capital goods unexpectedly fell in October after three straight months of hefty gains, but a sustained increase in shipments pointed to robust business investment and economic momentum as the year winds down.
Asian shares edged ahead on Thursday as speculation the Federal Reserve might not tighten US policy as aggressively as first thought slugged the dollar and boosted bonds globally.
UK growth forecasts
Brexit-bound Britain slashed its economic growth forecasts and ramped up its borrowing plans going into the 2020s, but finance minister Philip Hammond announced a number of spending steps aimed at winning back voters.
The European Central Bank will reaffirm its policy stance at its December meeting, and rate-setters hope to put off debate on new moves until well into next year, five sources with direct knowledge of the discussion told Reuters.
When Theresa May visits Brussels on Friday, EU negotiators will be listening intently for signs the British prime minister is preparing to risk a domestic backlash and raise her offer to secure a Brexit deal in December.
Germany's Social Democrats (SPD) faced pressure on Wednesday to consider offering coalition talks to Chancellor Angela Merkel's conservatives to settle the worst political crisis in modern German history.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.