Online Forex broker
On Thursday, gold extended previous session's post-FOMC decline and tumbled to an almost four week minimum of $1295.
The number one precious commodity was still under some selling pressure for the fourth trading session.
The US currency soared hard after the Fed policy statement hinted at one more interest rate lift this year. It coupled with an intention to get down to shrinking the Fed's huge $4.5 trillion balance sheet, which pressured gold.
The prevalent cautious market sentiment, backed by a moderate retracement in the American Treasury bond yields, gave some support to gold’s safe-haven demand and also helped to restrict deeper losses.
Apparently, a follow through selling pressure boasts the potential to keep dragging the major precious commodity towards its next support close to $1295 ahead of the $1284 region.
Sustained move back above $1300 level could potentially help gold to revive back towards the $1308-09 region, finding resistance near $1305.
On Tuesday, gold jumped, underpinned by hopes that the US main financial institution is going to send financial markets a more dovish message as for future monetary policy following the two-day policy gathering scheduled to start a bit later on Tuesday…
On Monday, gold managed to ascend because traders closely watched a busy week probably to be dominated by the Fed’s regular policy gathering…
On Thursday, in Asia, gold slipped notwithstanding the fact that China posted weaker-than-anticipated industrial output data…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
