empty
 
 

2019.01.1505:58:00UTC+00Gold Subdued As Equities Rebound

Gold prices were slightly lower on Tuesday as equity markets gained ground on expectations of fewer interest rate hikes this year by the Federal Reserve and amid hopes that China would unveil more measures to support its weakening economy.

Spot gold was marginally lower at $1,288.84 per ounce while U.S. gold futures were down 0.2 percent at $1,288.90 an ounce.

Global risk sentiment improved somewhat after Citigroup earnings beat Street views and China pledged to keep monetary policy stable to support growth.

Chinese finance ministry said that it would implement larger tax and fee cuts to help reduce burdens for small firms and manufacturers.

Separately, Chinese central bank said that it would stick with its prudent monetary policy to stabilize a slowing economy.

The dollar held weak on heightened expectations the Fed will halt its monetary tightening policy this year amid rising risks of a sharper economic slowdown.

  • 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 $5000 more!
    In November we raffle $5000 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