Media ININ Economy We Trust
MEDIA IN \ AGENCIES 19-01-2019
Gold prices have stabilized, supported by market expectations that the US Federal Reserve will increase interest rates this year less, while rising Chinese stocks have raised interest in riskier assets.
Spot gold fell about 0.1 percent to $ 1290.31 an ounce, and gold futures in the US futures contract fell 0.1 percent to $ 1290.70 an ounce.
“We will see resistance in the market until we see a catalyst that gives some support to safe haven assets,” said Kyle Roda, market analyst at IG Australia.
“The markets are not moving and are waiting for more information on the issues that matter to them.”
Asian stocks rebounded today after Beijing pointed to more supportive measures to stabilize its slowing economy and stressed that China is seeking a strong start for the first quarter of the year.
At the same time, the dollar has fallen on growing expectations that the US central bank will stop raising interest rates this year as global growth slows.
