Wednesday, 16 October 2019
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Gold Prices Drop After Havens Rally, Remains Above $1,500 Level
Tuesday, 17 September 2019 12:33 WIB | PRECIOUS METALS |GOLDEMAS

Gold prices dropped on Tuesday in Asia but remained above the $1,500 level.

Gold Futures fell 0.4% to $1,505.05 by 12:30 AM ET (04:30 GMT).

The yellow metal rose in the previous session following an attack on Saudi Arabian oil installations that triggered a flight to safety that benefited almost all haven assets.

Looking ahead, the U.S. Federal Open Market Committee will hold its regular meeting on Tuesday and Wednesday. The Federal Reserve is widely expected to cut rates by 25 basis-point, although stronger-than-expected retail sales and consumer sentiment data released on Friday undercut the case for more aggressive policy easing.

Fed Chairman Jerome Powell's post-decision press conference on Wednesday will be in focus.

Source : Investing.com

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