ForexLive Asia FX news wrap: Gold, silver buying again in Asia

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Tuesday 28 July 2020

Demand for the precious metals continued in Asia today with gold touching $1980 and silver $26. The FOMC meeting is today (and Wednesday) and an even more dovish Fed is expected. Investors are not seeming to be meekly awaiting the outcome with widespread USD selling in past days although currency moves here in Asia were muted compared with those for gold and silver.

And Bitcoin - it trade quickly higher also, to circa $11,400 before coming to a halt and retracing somewhat.

From Washington we had news on what appears to be an inching forward of stimulus negotiations with Pelosi indicating Dems would continue to work with the US Senate towards a compromise to get more economic relief stimulus through. Apart from this there was little news nor data of impact.

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Forex news for Asia tradingTuesday 28 July 2020re

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