Gold ascends as greenback tumbles to 8-month minimums

Gold ascends as greenback tumbles to 8-month minimums

On Thursday, gold ascended in European trade because the greenback extended its recent dip to the lowest value since October, spurring the appeal of the primary precious metal.

Gold futures reached at $1,252.69 a troy ounce in New York, adding 0.3%. On Wednesday, gold concluded higher, notching its fifth revenue for six sessions.

Additionally, silver futures tacked on approximately 0.7%, being worth $16.84 a troy ounce.

The US dollar fluctuated close to one-year lows versus the common currency and tumbled against the British pound because market participants priced in tighter monetary policy in the EU, reacting to hawkish comments made by major bank officials.

The British pound increased profits made after Bank of England Governor Mark Carney informed on Wednesday that Britain’s major financial institution would probably lift interest rates as the British economy approaches to operating at full capacity.

Similar

The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

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