Yellow Metal Boosted by US Gross Domestic Product
The yellow metal has improved, hitting the maximum of two weeks. The spot price for an ounce is at 1267.04 dollars (0.12% higher). US Final Gross Domestic Product was strong, having risen 3.2%. Considering GDP report, investors become more confident and odds for January rate hike hit 98%. Philly Fed Manufacturing Index increased to 26.2. Unemployment claims edged to 245K. Today, the US will release Core Durable Goods, New Home Sales and UoM Consumer Sentiment. The US Senate voted for the tax bill. Soon President Trump will sign it and then it will come into effect in the coming year. Corporate tax rate will be cut from 35% to 21%.