Forex Marketz Daily Forex News – Fully Markets Update
The price of US spot gold (XAU/USD) moved lower during Asian trade hours after hitting a fresh monthly high yesterday. The US dollar moved higher ahead of the monetary policy meeting of the Fed’s Federal Open Market Committee.
As of 12:00 am GMT, spot gold lost 0.2 percent to $1,252.90 per ounce. It hit $1,258.79 an ounce in the previous session. This was the bullion’s highest level since June 23.
The US gold futures contract, for August delivery, fell 0.1 percent to $1,253.30 per ounce.
In the Forex world, the US dollar rose from its lowest in more than a year. US Treasury yields also rose on Monday as investors look towards this week’s FOMC meeting. They are waiting on possible hints for when the next interest rate hike is coming.
The dollar was also assisted by stronger than expected US economic data. Investors are also keeping a wary eye on developments concerning possible ties between Russia and senior aides to President Donald Trump.
Gold Investors watch ongoing US Political Drama
Gold investors are keeping an eye on the long delayed decision to impose new sanctions on Russia. These hit another bump in the road, on Monday, when the Republican chairman of the Senate Foreign Relations Committee, Bob Corker said that any announcement of a deal was premature.
Donald Trump’s son-in-law, and senior advisor, Jared Kushner, told Senate investigators, yesterday that he had no part in any attempt, by Russia, to meddle in the US presidential election. He did meet with Russians four times last year.
Trump made, yet another, plea to Senate Republicans to “do the right thing” and finish with seven years of campaign promises to repeal and replace Barack Obama’s signature healthcare law, Obamacare.
