Gold ascends on Brexit jitters

Gold ascends on Brexit jitters

On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold.

On the Comex exchange, April delivery gold futures went up by 0.41% concluding the trading session at $1,296.35 a troy ounce.

Many experts are assured that Theresa May will fail to achieve the votes required to underpin her withdrawal pact.

If UK lawmakers reject May's agreement, she has pledged a vote on Wednesday on whether to depart from the EU without a deal and, if they vote down it, then there will be a vote for a limited delay to Brexit.

On Tuesday, the uncertainty stimulated demand for the yellow metal even as volatility reigned in the Forex market.

As markets closely watch developments, traders will wait for American inflation data expected to show up at 8:30 AM ET.

Market experts actually expect American consumer prices to match February’s surge, underlining the case for the US major financial institution to stick with its current wait-and-see stance.

Financial markets were still skeptical that the Federal Reserve could proceed with its rate lift in 2019, especially after the employment report revealed poor job creation in February. By the way, Fed fund futures exclude such a move and place the likelihood at above 10% that the next move would be a cut.

Apparently, the pause in policy tightening is beneficial for the yellow metal because it decreases the opportunity cost of holding non-yielding bullion.

In addition to this, silver futures managed to rally by about 0.97% hitting $15.4223 a troy ounce.

Palladium surged by 1.28% showing $1,500.90.

As for copper, this metal inched up by up to 1.10% ending up with $2.933 a pound.



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?

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

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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