Gold ascends due to diving US dollar

Gold ascends due to diving US dollar

On Thursday, the leading precious commodity managed to leap against in the face of the depreciation of the evergreen buck. Fears about trade between the United States and China also increased the demand for the number one precious commodity.

June delivery gold futures tacked on by 0.6% on the Comex exchange being worth $1297.00 per troy ounce.

The greenback slumped after the record of the last meeting of the Fed indicated a cautious attitude of officials to lift the interest rate before the end of 2018. The protocol uncovered on Wednesday indicated that officials of the Federal Reserve are trying for some time to keep inflation above the target level of 2%. This suggests that the Fed isn’t going to rush to tighten monetary policy.

The US dollar index, which evaluates the purchasing power of the American currency versus six main currencies, inched down 0.28% coming up with a reading of 93.65.

Assets, traded in the US dollar, such as gold, for instance, are sensitive to any changes in the greenback’s exchange rate. So, a depreciation of the evergreen buck makes the yellow metal cheaper for those investors who hold other currencies, and it raises the demand for gold.

The escalation of tension in trade relations between the United States and China also led to a soar in demand for defensive assets. On Wednesday, US President Donald Trump made rather a dismal outlook on bilateral talks, calling for a new format of trade between countries and also suggesting that current arrangements would be very difficult to implement in practice.

Besides this, the attention of investors will be focused on the report on the number of initial applications for unemployment benefits as well as the report on the sales of houses in the secondary housing market in April.


Something more Important than NFP
Something more Important than NFP

For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.    

Latest news

US Dollar Index at a 3-month Low
US Dollar Index at a 3-month Low

The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?

Soon Bullish Rally for Gold
Soon Bullish Rally for Gold

The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.

Deposit with your local payment systems

Feel the Team Spirit

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.


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!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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