Gold was up on Tuesday morning in Asia and was close to a two-week high. A weaker dollar also gave the yellow metal a boost and investors await the release of the minutes from the U.S. Federal Reserve’s latest policy meeting.
The New Zealand dollar rose on Tuesday after a strong business survey pulled forward rate hike expectations there to as soon November, while its Australian counterpart crept higher ahead of its own crucial central bank policy meeting later in the day.
Oil was up Tuesday morning in Asia even as the Organization of the Petroleum Exporting Countries and allies (OPEC+) failed to reach a deal to increase fuel output in August after days of talks.
Most Asian share markets opened a fraction higher on Tuesday, ahead of a key decision by Australia’s central bank on its quantitative easing programme and despite ongoing concerns over the future regulation of China’s powerful technology sector.
Gold was up on Monday morning in Asia after some central banks began increasing their gold holdings. Investors also await further U.S. economic data for further clues on the central bank’s monetary policy.
The dollar took a breather on Monday, after recent gains ran into a speed bump when details of last week’s U.S. jobs report soothed jitters about the timing of U.S. interest rate hikes.