giftedviz.com
giftedviz.com December 17, 2017


Precious Metals Preview: Gold Spikes, Dollar Index Tumbles

24 November 2017, 01:51 | Rodolfo Wallace

US dollar sinks on Fed's inflation concern, rate path

US stocks end mixed amid Fed minutes, economic data

The yen rose to a nine-week high against the dollar. The dollar later came off that low and last fetched 111.29 yen, up 0.1 percent on the day. The Fed kept interest rates unchanged at its last meeting, minutes of which will be released on Wednesday.

Japan and United States markets are closed on Thursday for a holiday, while South Korean markets open later than usual due to school exams.

The greenback nursed its losses after sliding almost 1.1 percent against the yen on Wednesday, its biggest one-day drop since mid-May.

However, the central bank added that economic data will determine the timing of future rate hikes, which could mean a slower pace than expected for 2018. Gold's gains accelerated after the Fed minutes, as the dollar fell to a two - month low versus the Japanese yen, a one - month low against the Swiss franc and its lowest since October 20 against a basket of currencies.

The Bloomberg Dollar Spot Index dropped 0.7 per cent.

Islanders encouraged to Shop Small
Many stores have Small Business Saturday specials just for consumers who have signed up to receive their emails. While it's only been six years, the day is already embraced as part of the holiday shopping tradition.


Week 12 injury report: Minnesota Vikings vs Detroit Lions
For most of the 2000s, the worst part about Thanksgiving, besides green bean casserole, was being forced to watch the Lions play. The Redskins are also looking for a win after losing to the Vikings in week 10 and to the New Orleans Saints in week 11.


Las Vegas Valley hits 80, a record high, as Thanksgiving looms
Southern California and other western parts of the United States will experience a record-breaking heat wave for Thanksgiving . This all is out ahead of another cold front that looks to bring about rain chances by the end of next week/early next weekend.


Spot gold was up 0.9 percent at $1,292.32 an ounce by 1:38 p.m. EST (1838 GMT), while USA gold futures for December delivery settled up $10.50, or 0.8 percent, at $1,292.20 per ounce.

US dollar index tumbled to a one month low around 93 mark on lack of clarity abount a December rate hike from the US Fed. At that meeting, the Fed held interest rates steady between 1% and 1.25%.

On the economic front, US new orders for manufactured durable goods in October decreased 2.8 billion USA dollars or 1.2 percent to 236 billion dollars, missing market projection of a 0.4-percent gain, the Commerce Department announced Wednesday.

"I think the market is pricing in MAS returning to a tightening stance", said Lee Jin Yang, macro research analyst for Aberdeen Standard Investments, referring to the chances that the Monetary Authority of Singapore (MAS), the city-state's central bank, could tighten its exchange-rate based policy next year.



Other News

Trending Now

European Union officials say UK Brexit stance chaotic in leaked document
The report quotes him as saying he has " issues around the quality of politicians in Westminster at present ". Ireland's foreign affairs ministry declined to comment on the report.

From Vega with love: Pegasus interstellar asteroid's next stop
This research was presented in a paper entitled " A brief visit from a red and extremely elongated interstellar asteroid ", by K. It means that we now have telescopes advanced enough to study foreign space objects even though they're usually hard to see.

South Africa 'dangerous' for Robert Mugabe and wife Grace
The 93-year-old had led the African country for 37 years, but resigned as impeachment proceedings began against him. Human rights campaigners hope the end of Mr Mugabe's brutal rule could mark a turning point for Zimbabwe.

Los Angeles Mission Hosts Annual Thanksgiving Event, Serves Thousands of Homeless People
Everything served at the meal was donated by area individuals and groups, or bought with cash donations. Felicia Adame and her family were one of about 100 families selected to receive meals.

Ange Postecoglou Resigns As Coach Of Australia National Team
The FFA's search for a new coach begins in earnest, with the next set of worldwide fixtures set to take place in March next year. The Socceroos will not play again until March next year at the earliest so we have time to conduct a thorough process.

Darrelle Revis is back in the NFL
A source close to the deal told NFL Insider Ian Rapport that Revis agreed to a two-year deal that will pay him the league minimum. The Chiefs will be the team hoping Revis recreates "Revis Island" for the remainder of the 2017 campaign.

AAA Gives Drivers Safety Tips for Thanksgiving Holiday Travel
Regardless of the day of the flight departure, travelers should allow extra time for traveling to the airport. You can see where the cops are on the road. "We got a head start this year", said Anne Flaminio.

Clippers open trade discussions with multiple teams for DeAndre Jordan
This was Beverley's first season in LA after being acquired from the Houston Rockets in the massive Chris Paul trade. Beverley played 22 minutes in a loss to the New York Knicks after missing five games with a knee injury .

Thomas Cook: Bookings for summer holidays in Greece up
Bookings for winter 2017/18 are also up, driven by demand for holidays to the Canaries and a strong recovery in Egypt. Thomas Cook added that summer programme ended in October with no significant changes to the trading environment.

Mississippians take to road, sky as Thanksgiving holiday approaches
Both the Council Bluffs Police and the safety bureau urge drivers to wear seat belts not just for Thanksgiving, but each day. Thanksgiving is usually a peak travel period, and troopers will be on the roads through Sunday.