Gold prices up in Asia on hopes for physical demand from India…
Gold prices rose in Asia with hopes for physical demand in India with the festival season well underway and as investor’s eye political risks broadly along with a weaker dollar. Overnight, gold prices fell on Tuesday following a sharp rise in the dollar on better-than-expected economic data and growing speculation that the next head of the Federal Reserve will favour a more aggressive stance on monetary policy. Gold prices continued to fall below a key $1,300 level after the dollar spiked on signs that the U.S. economy is on track for a solid quarter of economic growth.U.S. Import prices for September recorded their biggest increase in more than a year rising 0.7% for month, the Labour Department said. That beat expectations for a 0.5% rise. U.S industrial output rose 0.3% in September as construction and utilities production recovered following the impact of Hurricanes Harvey and Irma last month, the Federal Reserve said on Tuesday. Manufacturing production rose 0.1% in September.
(Source: Investing)
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