Gold Moves After Big Data Release By Investing.com

Written by Gina Lee

Investing.com – Wednesday morning trading in Asia rose; As investors have turned to the yellow metal as a safe haven amid growing fears of the recent Corona strain emerging, which has led to a decrease in risk appetite.

Read | Will gold complete its rise, or will it come back the opposite of the dollar? Here is the analysis:

Update

A statement was released a few moments ago, and it has been checked that there are 1.635 million building permits, which is considered positive, as the estimate was that it would reach 1.610 million permits.

However, by contrast, it recorded a negative drop to 1.534 million, which is the lowest for three months, and it was estimated to hit 1.600 million.

It went from 1,784.85 at the time the data was released to $ 1,792, then drops back to 1,790 for now, registering a 0.14% increase.

It is now registered at 1,790.15, an increase of 0.13%.

It is now at 93.05, down 0.08%.

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the news

It also rose 0.19% to $ 1,791.15 at 12:30 am ET (4:30 am GMT).

The “ignored reality” is that the delta mutator belongs to the COVID-19 family and whether it materially affects the global recovery. “In this situation, gold is likely to find more safe haven,” Jeffrey Haley, senior market analyst for Asia-Pacific at OANDA, told Reuters.

In the Asia-Pacific region, the Reserve Bank of New Zealand left the benchmark interest rate unchanged at 0.25% as it released its policy decision earlier today. As New Zealand’s first localized case of COVID-19 in six months forced the country to shut down and placed restrictions on the central bank’s plan to raise interest rates.

In other central bank news, the US Federal Reserve will publish later today. Investors will also seek advice on the Fed’s plans to reduce assets and raise interest rates within minutes.

Read | Here is what you need to know before trading in the gold and commodities markets today:

“The fate of gold will be decided by and if it so indicates,” added Halley.

While Minneapolis Federal Reserve Chairman Neil Kashkari said on Tuesday it might be “reasonable” to start deleveraging assets later in 2021, but that depends on the progress of the recovery. However, he said on the same day that it is still not clear whether the recent delta variant outbreak of the COVID-19 virus will have a noticeable impact on the economy.

At the level of other precious metals, it rose 0.7% and platinum jumped 1.3%. It rose 1.2% after hitting a two-month low on Tuesday.