Gold stands still in Asia
On Tuesday, gold prices held mostly steady during Asia trade, with comments from Fed Vice Chair Stanley Fischer, telling that the major bank is very close to price and job objectives targets, which should trigger a rate lift.
In New York, December delivery gold futures stood still at $1,256.75 per troy ounce. Aside from that, December delivery silver futures rose 0.05%, being worth $17.483 per troy ounce. At the same time December delivery copper futures gained 0.14%, reaching $2.107 a pound.
Overnight, gold prices changed little, hovering close to four-month minimums, as a broadly stronger greenback kept dampening demand for the number one precious metal.
The December contract concluded Friday’s trading session 0.17% lower, hitting $1,255.50 an ounce. Futures were about to gain support at $1,249.5, the minimum from October 7 and a four-month minimum as well as resistance at $1,259.00, the peak from October 13.
Gold prices were still under pressure as Friday’s positive American data kept the greenback at a seven-month high against other key currencies.