Market Report – Gold Nears Record, Metals Firms Gain

In today’s market report… Gold neared a record high price, fueled by ideas of further U.S. monetary policy easing and a weaker dollar, while Asian shares hit a two-year high.

Copper also flirted with a two-year high, as the jump in metals prices lifted firms like Japan’s Sumitomo Metal Mining, as well as miners such as giant BHP Billiton.

Strong Chinese manufacturing data helped to support regional shares, although markets in the Mainland were closed for a holiday.

Overall, the Nikkei edged lower ahead of a Bank of Japan policy decision Tuesday. The persistently strong yen is seen encouraging the BOJ to ease policy to offset the likely impact of a Federal Reserve move.

If the yen continues to advance towards a 15-year high, traders expect renewed intervention in the currency market.

Foto: NTDTV