Gold prices moved higher in Asia on Monday, January 9, as investors awaited a lineup of Fed speakers this week.
Gold for February delivery soared 0.21% to $1,175.85 a troy ounce on the Comex division of the New York Mercantile Exchange. Copper futures was up 0.08% to $2.544 a pound.
In the week ahead, investors will be looking ahead to U.S. economic reports, particularly Friday’s retail sales figures for December.
Investors will also be watching an appearance by Fed Chair Janet Yellen on Thursday and speeches by a handful of other Fed officials during the week, as well as President-elect Donald Trump on Wednesday for a press conference.
Last week, gold prices fell on Friday, retreating from the previous sessions one-month highs as the dollar strengthened against a currency basket after U.S. jobs data showed a slowdown in hiring in December but a pickup in wage growth, investing.com reports.
