Bullions prices down in Asia as FED view weigh
Gold prices fell in Asia on Friday with a stronger dollar and the rising chances of hike weighing on the hedge commodity.
Overnight, gold prices were trading close to two-week highs on Thursday after the European Central Bank indicated that it would wait until December to discuss tapering its asset purchase program, or the possible horizon at which stimulus might end, aiding dollar strength.
ECB President Mario Draghi did indicate that an adjustment to the stimulus program could come in December, saying its assessment would benefit from new economic projections by ECB forecasters.
The ECB left interest rates across the euro zone unchanged at record lows of zero on Thursday and kept the deposit facility rate at -0.4%.
Crude oil prices down in Asia as sentiment turns down ahead of U.S. rig data
Crude oil prices dropped in Asia on Friday as sentiment turned downbeat on the supply outlook with U.S. rig count data ahead to cap the week.
Oil prices fell on Thursday as traders took profits following a rally in the previous session fueled by an unexpectedly large U.S. oil inventory drawdown last week and hopes for an output cut by major producers.
Total U.S. crude oil inventories stood at 468.7 million barrels as of last week, the EIA said. The report came after industry group the American Petroleum Institute said late Tuesday that U.S. crude oil stocks fell by a surprise 3.8 million barrels last week.