Observing news today one can easily get disappointed. However, things are getting better.
Gold ascends to 6-week peak as Fed shows dovish tone on inflation
On Thursday, gold soared to the highest value in six weeks in European trade, right after the Fed’s cautious wording on the American inflation outlook drove hopes that policy tightening would be glacial.
Gold futures showed $1,262.82 a troy ounce, gaining 1.1%. The commodity hits its highest value since June 15.
On Wednesday, the precious commodity sank for a third-straight session before moving up in post-settlement trade as the greenback weakened in the wake of the Fed’s quite dovish policy statement.
While the Fed told it actually expected to start shrinking its huge holdings of bonds very soon, it also stressed that weakness in American inflation turns to be more explicit than before.
The recognition of soft inflation contributed to hopes that the Fed's intention to lift interest rates a third time in 2017 might be delayed.
Meanwhile, platinum managed to leapt 1% being worth $931.80, palladium soared 0.5% trading at $867.05 an ounce.
XAU/USD reversed down from the $1,700 area and dropped to $1,586 on March 12.
Oil market crashed after OPEC+ didn’t agree on production cuts. What’s next? Let’s see what bank analysts have to say about this.
WTI was at $20 per barrel just in the beginning of the day. Currently - above 25$.
27,000 people became unemployed in private sector
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.