(Before It's News)
MTECHTIPS:-Gold prices down in Asia with Shanghai shares up at the break
Gold eased in Asia on Friday with China’s stock markets volatile, but recovering after an early sharp dip. On the Comex division of the New York Mercantile Exchange, gold for February delivery fell 0.35% to $1,103.90 a troy ounce. The Shanghai Composite plunged briefly after the open and rebounded to trade up 1.74% at the break. A week of volatility on the bourse spooked global markets. The yuan rose Friday after the People’s Bank of China set a stronger fixing for the first time in nine trading sessions. The yuan last traded 0.06% stronger at 6.5887 against the dollar compared with Thursday’s close of 6.5929. The PBOC this morning set the yuan fixing at 6.5636 compared with Thursday’s 6.5646. Monetary policy makers in Japan said steps take in the December Bank of Japan board meeting were adjustments to policy, not easing, as downside risks were noted, but not seen as heightened, according to a summary of minutes released on Friday. “While the supplementary measures decided this time are not additional monetary easing, they enable the bank to steadily continue with quantitative and qualitative monetary easing (QQE) through smoother asset purchases and, if judged necessary, to make appropriate adjustments in a timely manner,” the summary said. “Since downside risks to the outlook for economic activity and prices have not increased, the bank should maintain the current guideline for money market operations
WWW.MTECHTIPS.COM
07489294118-119
Register
Newsletter
If you really want to ban this commenter, please write down the reason:
