Gold goes down as greenback surges

Gold goes down as greenback surges

On Friday, gold inched down in Asia notwithstanding resumed China-US tensions. A strengthening evergreen buck was cited as a headwind for the number one precious commodity.

On the Comex exchange, gold futures managed to reach an outcome of $1,312.90, heading south by about 0.1%.

In addition to this, the USD index, normally utilized to gauge the greenback’s actual purchasing potential versus a group of other rivals, managed to ascend to a two-week maximum on Friday. As a matter of fact, the USD index last demonstrated an outcome of 96.345, heading north by up to 0.1%.

Notwithstanding today’s dive, gold prices have managed to tack on by up to 13% since hitting 1-1/2-year minimums in August. A weaker evergreen buck, volatile stock markets, to say nothing of a dovish stance pursued by the Federal Reserve – these are all factors supposed to be backing the yellow metal.

On Thursday, American leader told that he isn’t going to meet his Chinese rival Xi Jinping before their mutual March 1 deadline to come to a compromise, thus driving uncertainties over the trade agreement between the two leading economies.

His remarks showed up right after this week Lawrence Kudlow Traders, White House advisor revealed to Fox news that 'sizable distance' is still in US-China trade negotiations. On Thursday, gold managed to ascend reacting to Kudlow’s remarks, although gave up some of its profits today.

By the way, US leader came up with a threat to ramp up American levies on China’s goods if the two trading partners fail to come to a compromise before the March deadline. Another round of negotiations is expected to take place in Beijing next week.


Latest news

USD strengthened as optimism waned
USD strengthened as optimism waned

The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.

Stocks up, USD down
Stocks up, USD down

S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.

Deposit with your local payment systems

Learn more

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.


Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

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