(Before It's News)
MTECHTIPS:- Gold prices edge up in Asia on dovish Fed views
Gold prices ticked higher i Silver futures for March delivery edged up 0.04% to $15.390 a troy ounce, while copper futures were flat at $2.214 a pound. Overnight, Gold futures ticked up on Tuesday remaining near 13-month highs, as investors took part in a flight to safety from equities in China following the latest batch of subdued data from the world’s second-largest economy. Gold ended February with its best month in more than a decade and is on pace for its strongest opening quarter in nearly 30 years. After ending last year just above $1,050 an ounce, the precious metal has surged by nearly 20% over the last nine weeks. In China, the Customs Administration said Tuesday that exports fell by 25.4% on an annual basis in February, extending losses from a month earlier when they dipped by 11.2% on the month. While exports were expected to fall considerably due to the Chinese New Year, the figure came in sharply below analysts’ expectations for a 15% decline. With the declines, exports decreased at their highest monthly rate since the depths of the Financial Crisis.
n Asia on Wednesday on a more dovish outlook for U.S. interest rates. On the Comex division of the New York Mercantile Exchange, gold for April delivery rose 0.11% to $1,264.30 a troy ounce.
WWW.MTECHTIPS.COM
07489294118-119
Register
Newsletter
If you really want to ban this commenter, please write down the reason:
