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© Reuters
Written by Gina Lee
Investing.com – It was lower in Tuesday morning trading in Asia, but remained above the $ 1,800 mark. As investors weakened and increased their bets on the US Federal Reserve.
It also rose 0.52% to $ 1,824.25 at 12:19 am ET (4:19 GMT), after hitting a two-and-a-half-month high in the previous week following a disappointing report on the employment in the United States.
The dollar regained strength and rose 0.26% in those times, affecting gold and its decline. As for the central banks, the European Central Bank published its political decision on Thursday. The Reserve Bank of Australia is due to release its policy decision later today, and the Bank of Canada will follow suit the next day.
In addition, the United States is expected to start reducing its assets after last Friday’s publication showed non-farm wages to be lower than expected. Investors will now see if any of the central banks making policy decisions throughout the week will start to reduce their assets.
On the data front, China’s trade data for August, released earlier today, was better than expected. Where exports grew 25.6% yoy and imports 33.1% yoy, while the trade balance stood at $ 58.34 billion.
However, Japanese household spending increased less than expected in July, declining 0.9% m / m while increasing 0.7% y / y.
In India, gold imports in August nearly doubled on an annual basis thanks to strong demand, and low prices have prompted jewelers to increase their purchases for the upcoming holiday season, a government source says. .
In other precious metals news, it rose 0.4% to $ 24.76 an ounce and came in at $ 2,410.52, while platinum was up 0.1%.
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