Gold loses ground as dollar scales four-month high

2020-02-14 08:34:45 GMT (Economies.com)
Gold loses ground as dollar scales four-month high

Gold futures tilted lower in Asian trade as the dollar index scaled October 9 highs, ahead of a slew of US data while China is expected to cut tariffs on US commodities worth $75 billion by nearly half. 

 

As of 04:04 GMT, gold futures due in April shed 0.13% to $1,577 an ounce, while the dollar index rose 0.02% to 99.15. 

 

From the US, retail sales are expected up 0.3% as before, while core sales are estimated up 0.3%, slowing down from 0.7%. 

 

Import prices are expected down 0.2% in January, while industrial production is estimated down 0.2% as well in December. 

 

The capacity utilization rate is expected down to 76.9% from 77% in December, while business inventories are estimated up 0.1%. 

 

Federal Reserve Bank of Cleveland President Loretta Mester will   speak about payments modernization at the University of South Florida, in Sarasota.

 

China's President Xi Jinping expressed his belief this week that China would win its battle with the coronavirus and will achieve all of its economic and social targets and become "more prosperous after winning", pointing to positive results in containment.

 

 
 
 
  Symbol Last Change Chg.%
1.1833
0.0067
0.5682%
1.3103
0.0032
0.2463%
Tadawul
7704.25
49.87
0.65%
26.654
-1.894
6.634%
42.050
0.065
0.155%
44.83
-0.13
0.29%
1944.435
-90.960
4.469%
 
 
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