[ad_1]
April 30 (Reuters) – Gold edged up on Tuesday, as Asian stocks fell before the release of much economic data and the two-day meeting of the US Federal Reserve, which will decide the trajectory of inflation rates. # 39; s interest.
FUNDAMENTALS
* Spot gold was up 0.2% at $ 1,281.95 ounce at 0123 GMT.
* Gold futures in the US increased 0.2% to $ 1,283.90 an ounce.
* Asian stocks fell on Tuesday morning despite another record high for the S & P 500, as investors turn to a US Federal Reserve statement expected Wednesday to confirm that the central bank will continue its "patient" approach to interest rate policy.
* Chinese factory activity slowed unexpectedly in April, an official study said on Tuesday, suggesting that the economy is still struggling to regain strength, despite mounting support measures.
* The market is now monitoring a host of economic data from the eurozone and the Fed statement on Wednesday.
* The Federal Reserve should keep interest rates steady as policymakers decide to balance stronger-than-expected US economic growth with soft inflation.
* China's net gold imports by major pipelines, Hong Kong, rose 9.8 percent in March from the previous month, according to figures released by the Hong Kong government on Monday.
* Gold production from Newcrest Mining Ltd, based in Australia, in the third quarter, was reduced by approximately 5% from the previous quarter, due to lower production in most of its operations, including its flagship mine Cadia.
* Newmont Goldcorp Corp announced Monday that it was considering suspending the activities of its Peñasquito mine in Mexico due to a blockade imposed by a trucking contractor and some members of the Cedros community.
* Palladium fell 7% Monday to $ 1,361.50 an ounce, but recovered ground to settle at $ 1,370.50.
* Palladium rose 0.3% to $ 1,374.51 an ounce Tuesday.
DATA AHEAD (GMT)
* 0530 France QQ preliminary GDP Q1
* 0645 France IPC (Standard EU) Prelim YY April
* 0755 Germany Unemployment Chg SA April
* 0755 Germany April unemployment rate
* 0900 preliminary EU Preliminary Flash YY QQ Q1
* 0900 Unemployment rate of the EU in March
* 1200 Germany IPC Prelim YY April
* 1200 Germany IPCH Prelim YY April
* 1400 US consumer confidence, April
The Federal Open Competition Committee of the US Federal Reserve will begin its two-day interest rate meeting (report by Arijit Bose in Bangalore, edited by Richard Pullin)
Warning: The opinions expressed in this article are those of the author and may not reflect those of the author. Kitco Metals Inc. The author has endeavored to ensure the accuracy of the information provided. However, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes. It is not a solicitation to exchange products, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept any liability for losses and / or damages resulting from the use of this publication.
[ad_2]
Source link