Gold consolidates around $ 1145 in Asia, US data eyed

By FXStreet FXStreet (Mumbai) – The yellow metal continues to trade around a flat line in the Asian session, extending its side-trend from last US session, as markets digest the latest remarks from Yellen, a set of mixed US data, heading into a heavy macro-week ahead.

US PCE price index – key

Currently, gold trades flat at 1145.70, finding good support just ahead off 1140 levels. Gold price trades in a tight range with the upside capped by 1148 and the downside limited by 1140 mark.

Gold prices remain side-lined amid a calmer Asian session, with lack of fundamentals to bring in fresh moves. While the prices now await the Fed’s preferred inflation gauge and a slew of Central bankers’ speeches due later in the day.

Moreover, gold remains supported on the back of mixed performance on the Asian indices, with the Nikkei in the red, -0.77% while Australia’s ASX gains over 1%. China’s Shanghai composite index trades almost unchanged near 3,100 points.

Meanwhile, the US dollar reversed early losses and now turned positive in early Asia against its major competitors. The USD index tracking the currency’s performance against a basket of major peers, trades modestly flat at 96.38, recovering from a dip to …read more

Source:: FX Street