empty
 
 

2018.01.2307:59:00UTC+00Gold Strong As Fed Dawdles

Gold futures crept higher Tuesday, preserving recent gains amid speculation that interest rates will stay low for the time being.

The Federal Reserve has projected three rate hikes in 2018, but analysts say a move is unlikely until core inflation picks up later in the year.

Traders will be paying attention to remarks from Fed Chair Charles Evans tonight at 6:30 pm ET.

Meanwhile, gold is up $5 at $1337 an ounce, supported by a weak US dollar. The precious metal has recouped fourth quarter losses and is trading near September's highs.

On the economic front, Redbook data that tracks week to week change in comparable store sales at chain stores, discounter and department stores will be published at 8.55 am ET. The previous week's store sales were up 2.6 percent.

The Richmond Fed manufacturing index for January will be published at 10.00 am ET. The consensus is for 18, down from the prior level of 20.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback