Gold Prices Inch Higher On Dollar Weakness

Trading 05 nov 2018 Donner votre avis

Gold prices rose slightly on Monday and the dollar lost ground against most of its peers after reports that Prime Minister Theresa May has secured a secret Brexit deal to keep the U.K. in the customs union.

Spot gold rose 0.1 percent to $1,231.95 per ounce, while U.S. gold futures were up 0.22 percent at $1,233.60 per ounce.

Traders looked ahead to the U.S. mid-term elections as well as the FOMC meeting this week for directional cues.

Tuesday's midterm elections would give Democrats a chance to more effectively oppose Republican President Donald Trump's agenda.

Opinion poll results give the Democrats a better chance at winning back a majority in the House than in the Senate.

The Federal Reserve is widely expected to leave interest rates unchanged on Thursday, although the accompanying statement may provide clues about the anticipated rate hike next month.

The material has been provided by InstaForex Company -

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