Online Forex broker
On Tuesday, the yellow metal demonstrated its lowest value for three weeks. It took place due to the fact that fears about a global economic deceleration driven investor appetite for safe haven assets.
On the Comex exchange gold futures dived to an intraday minimum of $1,276.00 a troy ounce that happens to be the weakest reading since December 28, before regaining to a reading of $1,282.55.
Besides this, spot gold hit $1,283.07 per ounce, adding nearly 0.2%.
On Monday, the International Monetary Fund had its 2019 as well as 2020 global growth estimates trimmed, referring to a bigger-than-anticipated deceleration in China and also the EU, and told that failure to tackle trade tensions could further destabilize a decelerating global economy.
The downgrade showed up several hours after China posted its slowest quarterly economic surge since the financial downtime and also its poorest annual expansion since 1990.
The news actually helped traders to neglect risky assets, including equities, and instead shift to traditional safe haven assets, such as bullion.
However, profits were restricted by a soaring evergreen buck that held near a three-week maximum versus a group of key currencies.
A stronger greenback can be a negative for commodities, priced in this asset, making them more costly to those who use other currencies.
In addition to this, silver futures went down by about 0.75% coming up with an outcome of $15.28 a troy ounce.
As for palladium futures, they managed to reach a record maximum of $1,434.50 the previous week. Nevertheless, on Tuesday, they inched down by approximately 2.4% ending up with a reading of $1,302.30.
As for platinum, this commodity headed south by about 0.7% being worth $796.80.
In addition to this, March delivery copper futures went down by 1.6% trading at $2.676 a pound.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on October 8, 15:30 GMT+3.
Sudden spikes? Yes, please! Gold is above $1,800, finally!
What will happen? NonFarm Payrolls data will be announced at 15:30 MT (GMT+2) on Friday, December 3…
OPEC-JMMC meetings will be hosted on Thursday, December 2 during the whole day.
ISM Manufacturing PMI will be announced at 17:00 MT (GMT+2) on Wednesday, December 1.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
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 will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
