FUNDAMENTALS
* Spot gold was flat at $1,924.29 an ounce at 0056 GMT. U.S. gold futures settled at $1,946.10.
* Asian stocks began trading cautiously on Monday, in a week packed with central bank meetings, which will be closely scrutinized for the global interest rate outlook.
* Faster growth, lower inflation and a job market that won’t let up set the stage for a series of updated forecasts from Fed officials this week, likely to reflect their growing confidence in prospects for a soft landing of the economy.
* The Bank of England is likely to raise interest rates once again this week, perhaps the last hurray for one of the biggest tightening cycles in the last 100 years as the economy slows begins to worry political decision-makers.
* The Bank of Japan policy meeting on Friday is the highlight of the week in Asia. * US manufacturing output barely increased in August amid falling auto production, and activity could contract in coming months after the United Auto Workers (UAW) union launched strikes in three factories.
* Chinese gold prices hit record highs last week, extending a months-long rise as consumers snap up the safe-haven asset to offset a depreciating yuan. Physical gold premiums have also reached new highs due to the absence of new import quotas.
* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said on Friday its holdings rose 0.1% to 880.27 tonnes.
* COMEX gold speculators reduced their net long position by 16,544 contracts to 49,796 in the week ended September 12, according to data released Friday.
* Elsewhere, spot silver rose 0.3% to $23.07 an ounce, platinum gained 0.2% to $927.29 and palladium was flat at $1,248.73.
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FUNDAMENTALS
* Spot gold was flat at $1,924.29 an ounce at 0056 GMT. U.S. gold futures settled at $1,946.10.
* Asian stocks began trading cautiously on Monday, in a week packed with central bank meetings, which will be closely scrutinized for the global interest rate outlook.
* Faster growth, lower inflation and a job market that won’t let up set the stage for a series of updated forecasts from Fed officials this week, likely to reflect their growing confidence in prospects for a soft landing of the economy.
* The Bank of England is likely to raise interest rates once again this week, perhaps the last hurray for one of the biggest tightening cycles in the last 100 years as the economy slows begins to worry political decision-makers.
* The Bank of Japan policy meeting on Friday is the highlight of the week in Asia. * US manufacturing output barely increased in August amid falling auto production, and activity could contract in coming months after the United Auto Workers (UAW) union launched strikes in three factories.
* Chinese gold prices hit record highs last week, extending a months-long rise as consumers snap up the safe-haven asset to offset a depreciating yuan. Physical gold premiums have also reached new highs due to the absence of new import quotas.
* SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said on Friday its holdings rose 0.1% to 880.27 tonnes.
* COMEX gold speculators reduced their net long position by 16,544 contracts to 49,796 in the week ended September 12, according to data released Friday.
* Elsewhere, spot silver rose 0.3% to $23.07 an ounce, platinum gained 0.2% to $927.29 and palladium was flat at $1,248.73.
Download the Economic Times News app to get daily market updates and live business news.
Most Trending Stocks: Sensex Today Live, SBI Stock Price, Axis Bank Stock Price, HDFC Bank Stock Price, Infosys Stock Price, Wipro Stock Price, Stock Price NTPC action
