Gold Price Surges Above US$2,300 Amid US Oil Reserve Refill Suspension

Thursday, 4 April 2024, 03:24
ForexLive Asia-Pacific FX news wrap highlights Gold trading above US$2,300 amidst the US decision to halt emergency oil reserve refilling plans due to soaring prices. Key market developments include Federal Reserve officials' comments, commodity price fluctuations, and significant economic indicators from Australia and New Zealand. Market activities in Asia remained subdued as China and Hong Kong celebrate a holiday, reflecting minimal FX movement and lack of fresh news with Federal Reserve insights dominating the session.
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Gold Price Surges Above US$2,300 Amid US Oil Reserve Refill Suspension

Gold Hits New Highs Amid Market Volatility

ForexLive Asia-Pacific FX news wrap: Gold reaches a new high above US$2,300 as US pauses emergency oil reserve refill plans. Bank of America projects oil peak prices and Federal Reserve officials express expectations amidst economic recovery challenges. Key data from Australian and New Zealand economies and insights into global economic trends shape market sentiments.

Federal Reserve Insights and Market Activities

  • US decisions impact global markets
  • Eight Fed officials' remarks influence investor sentiment
  • Australian and New Zealand economic indicators reveal market trends
  • Asia-Pacific markets remain subdued
  • China and Hong Kong celebrate holidays, causing minimal FX movements

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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