Gold demonstrates muted trade

Gold demonstrates muted trade

On Tuesday, gold futures showed muted trade because a soar in global stocks compensated a moderately weaker greenback that capped the traditional safe-haven commodity’s moves.

August delivery gold futures soared up to 0.2% being worth $1,227.40 an ounce. September delivery silver futures managed to ascend 0.6% hitting $15.510 an ounce.

Evaluating the US dollar’s purchasing potential against its main rivals, the USD index slumped 0.2% trading at 94.49.

Aside from that SPDR Gold Shares GLD lost about 0.5%, the iShares Silver TrustSLV declined nearly 0.8%.

Both silver and gold have been sliding for the last weeks due to the fact the evergreen buck managed to gain traction.

This year silver has lost 9.5%, while gold has slumped 6.3% in 2018. At the same time, the USD index has managed to rally 2.5% for the first seven months of 2018.

A stronger greenback is capable of making commodities priced in the USD less affordable against those utilizing other monetary units.

Delivering a further headwind for the number one precious commodity on Monday was a leap in the rates of government bonds, in particular in America, with the 10-year Treasury noteTMUBMUSD10Y ascending to 2.963%, thus demonstrating a six-week rate maximum —a move, which is able to reduce some appetite for precious commodities, which don’t offer profits.

As for other metals, they generally ascended. As a matter of fact, September delivery palladium futures rallied about 1.6% coming up with an outcome of $917.60 an ounce. Additionally, October delivery platinum futures tacked on up to 1.5% ending up with $843.30 an ounce. As for September delivery copper futures, they headed north approximately 0.8% trading at $2.768 a pound.

Meanwhile, market participants are waiting for reports on house prices, economic activity, in particular the Markit service purchasing managers and manufacturing indexes.




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

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.


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