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  • STI Straits Times Index
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    0.9 (0.03%)
     
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  • Volume: 900.5M
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  • Rise: 124
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Name Last Change
Keppel DC Reit2.110+0.040
YZJ Shipbldg SGD1.000-0.050
HPH Trust USD0.168-0.006
ThaiBev0.895-0.010
Frasers Cpt Tr2.750+0.020
TEE Intl0.043-0.004
Mapletree Com Tr2.290+0.020
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World Indices
Name Last Change
Nasdaq 8,182.9 +5.5
HSI 26,435.7 -33.3
HSCEI 10,375.6 -9.7
Jakarta 6,231.5 -13.0
Nikkei 225 22,079.1 +34.6
SSE Comp 3,006.4 +7.2
Shanghai A 3,149.6 +7.5
Shanghai B 273.3 +0.9
PSE Comp 0.0
KOSPI 2,091.5 +11.2

Asian Indices delayed. US Indices updated twice daily at 7:30am and 7:30pm.

News - Detailed News Story

GLD US$

Stock Chart
Last Done 141.970
Change +0.610 (+0.43%)
Volume 17.71
Range 141.550 - 142.160

Gold loses some shine as investors await FOMC meeting

29 Jul 2019 09:00

By Benjamin Lu

THE precious metal eased off previously held gains amid strong US jobs data and profit-booking activities before the next Federal Open Market Committee meeting (July 30-31). Smaller rate cut expectations prompted a recovery in the US dollar whilst imposing mild headwinds for the yellow metal. Financial markets have maintained bets for a 25bps reduction in the US Federal Fund Rate. Persistent weakness in global PMIs and US trade protectionist policies look poised to remain supportive towards safe haven assets in the current term.

What should investors look out

for in the longer term?

Shaky economic fundamentals along with US trade protectionism have prompted a dovish pivot by global central banks. Looser monetary policies by the US Federal Reserve look poised to spur gold prices forward as traders contemplate lower yields and looming US dollar weakness. The precious metal, as such, has illustrated higher upside potential amid rising economic uncertainties and accommodative monetary policy by the US central bank. All eyes will be on the July 30-31 US FOMC meeting as Fed policymakers set the tone for forward guidance in monetary policy (H2, 2019).


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Source: Business Times
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