Gold steady on market caution over U.S. presidential debate
Gold steady in Asian trade on Tuesday as uncertain equity markets at the start of the first U.S. presidential debate shored up the metal's safe-haven appeal.
Important economic data ahead:-
- US - CB Consumer Confidence – 7:30pm
- US – FOMC Member Stanley fisher speaks – 8:45pm
Crude oil steady as OPEC Members back output deal
Crude oil steady as OPEC members Nigeria and the United Arab Emirates backed reaching a deal to stabilize markets when the group meets Wednesday in Algiers.
The U.A.E. supports a deal to freeze output if other nations agree, but production cuts are not up for discussion, Oil Minister Suhail Al Mazrouei said.
Major oil producers are gathering in Algeria for a three-day meeting that could see moves to cut or freeze oil output in an effort to support oil prices.
The Organization of the Petroleum Exporting Countries and other oil producers led by Russia are meeting informally on the sidelines of the International Energy Forum in Algeria from Sept. 26-28.