Gold inches down amid Fed inflation concerns
Gold prices nudged lower early Thursday, after gaining nearly one percent in the previous session on weaker U.S. economic data and concerns by some Federal Reserve policymakers about lower inflation.
U.S. gold futures
Many Federal Reserve policymakers expect that interest rates will have to be raised in the "near term," according to the minutes of the U.S. central bank`s last policy meeting released on Wednesday. However, some members expressed concern over the inflation outlook and emphasized they would be looking at upcoming economic data before deciding the timing of future rate rises.
New orders for key U.S.-made capital goods unexpectedly fell in October after three straight months of hefty gains, but a sustained increase in shipments pointed to robust business investment and economic momentum as the year winds down.
Asian shares edged ahead on Thursday as speculation the Federal Reserve might not tighten U.S. policy as aggressively as first thought slugged the dollar and boosted bonds globally. [MKTS/GLOB]
Brexit-bound Britain slashed its economic growth forecasts and ramped up its borrowing plans going into the 2020s, but finance minister Philip Hammond announced a number of spending steps aimed at winning back voters.
The European Central Bank will reaffirm its policy stance at its December meeting, and rate-setters hope to put off debate on new moves until well into next year, five sources with direct knowledge of the discussion told Reuters.
When Theresa May visits Brussels on Friday, EU negotiators will be listening intently for signs the British prime minister is preparing to risk a domestic backlash and raise her offer to secure a Brexit deal in December.
Germany`s Social Democrats (SPD) faced pressure on Wednesday to consider offering coalition talks to Chancellor Angela Merkel`s conservatives to settle the worst political crisis in modern German history.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)