Gold continued to gain in Asian trading on Tuesday morning adding over $5.00 (1660.65) ahead of the FOMC meeting beginning today. Bullion edged up on Monday but struggled to break away from a two-week low hit in the previous session, with a brighter global economic outlook dampening the metal’s appeal as a safe haven. EU leaders have spent the last week talking up the euro saying that the euro zone crisis is stabilizing while the U.S. recovery is gaining traction helped drive investors to the higher-yielding equity market. Investors will closely watch the Federal Reserve’s policy meeting which starts today as well as a string of data on employment, economic growth and consumption, to gauge the pace of recovery in the world’s largest economy. The US dollar traded flat yesterday having little effect on the value of the commodity.Continue Reading....
January 29, 2013 5:58 (GMT) | By FX Empire Analyst - Barry Norman
No comments:
Post a Comment