NEWS： Poor U.S. data and doubts about the Euro-exit agreement
please contact sales@tanchin.hk for any inquiry
Gold hit a nearly two-week high Wednesday as tepid U.S. economic data strengthened the Federal Reserve's patience with monetary policy, while uncertainty about Britain's exit agreement before the key vote also boosted gold's appeal.
Spot gold rose 0.5% to $1,308.83 an ounce at 1805 GMT, the highest since March 1.
U.S. gold futures closed up 0.9% at $1,309.3 an ounce.
"PPI data in the United States are weaker than expected. This, together with the news of Britain's withdrawal from Europe, is helping gold prices, "said Bob Haberkorn, senior market strategist at RJO Futures.
In February, the U.S. domestic producer price index rose 1.9% year-on-year, the smallest annual increase since June 2017.
This week's moderate inflation and disappointing producer price indices supported the Fed's position of keeping interest rates unchanged, depressed the dollar and boosted demand for interest-free gold. The Federal Reserve Interest Rate Committee will issue its next policy statement after its meeting from March 19 to 20.
Gold broke through the psychological threshold of $1,300 on Tuesday, helped by the weakening of the dollar as inflation data in February in the United States were weaker than expected and bond yields fell, hurting demand for the dollar.
The failure of the second attempt of British Prime Minister Teresa Metou's plan plunged Britain into a deeper political crisis and reduced its risk appetite before leaving the EU on March 29.
please contact sales@tanchin.hk for any inquiry
PREVIOUS:Bearing side cover packing Improvement
Bearings
products
- Bearing side cover packing Improvement
- Bearing anchor design on the inside of the outer edge of the bearing housing fou
- Single row cylindrical roller bearing structure with ordinary single row cylindr
- Stiffness of the support shaft supported by rolling stiffness depends on the sti
- TANCBEARING NSK Bearings 3210A size parameters
