Gold prices gain smartly in Asia as China returns from week-long break
Gold prices jumped in Asia with China back after a week-long break bringing some heft to the market even as Japan, South Korea and Taiwan are shut for holidays. This week, Wednesday’s Fed minutes will be in focus for fresh indications on the timing of the next U.S. rate hike. Friday’s U.S. data on inflation and retail sales will also be in focus. Markets will also be eyeing a speech by ECB head Mario Draghi for clues on when the central bank will shift away from its ultra-easy policy. The dollar fell following reports on Friday that North Korea is preparing to test a long-range missile, adding to fears over a potential conflict in the region. The dollar earlier rose as higher than expected wage growth in the U.S. jobs report for September was seen as potentially boosting inflation.
Source: Investing
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