Gold ascends a bit sticking to $1275 on weaker greenback

Gold ascends a bit sticking to $1275 on weaker greenback

On Friday, after yesterday's decline to near a three-week minimum, gold seems to have steadied and held with minor revenues through the Asian trading session.

A steep ascend in the American Treasury bond yields, underpinned by mostly in-line core PCE price index, provoked an abrupt dive around the non-yielding commodity.

A fresh wave of the greenback selling bias, powered by renewed worries over the fate of Donald Trump’s proposed tax cuts, gave some support to gold and helped to rebound from dips. 

A follow-through USD weakness in addition to a considerable slowdown in China's manufacturing activity gave some extra support to the number one precious metal. 

Notwithstanding the supporting factors, resilient American bond yields continued exerting some downward pressure, keeping a lid on any significant up-move for gold.

The US ISM manufacturing PMI along with speeches by influential FOMC member are expected to influence gold’s movement a bit later on the last day of this trading week.


Gold is at 5-month minimums on stronger greenback

On Friday, gold dived to five-month minimums because optimism as for the US tax reform overhaul kept underpinning demand for the US dollar ahead of the highly-anticipated American nonfarm payrolls report to be released a bit later in the day…

Crude rallies as American crude stocks dive

On Thursday, crude tacked on after a data report disclosed a soar in American crude inventories, although ascending gasoline stocks along with crude output weighed on the market…


promotions you can be interested in

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera