ONLINE FOREX BROKER
On Monday, gold kept close to the recent minimum for five weeks amid a dive in geopolitical tensions, a rise in the evergreen buck as well as a dive in demand for the number one precious metal.
On the Comex exchange June delivery gold futures dived by 0.38% hitting $1318.3 a troy ounce, approaching the Thursday's minimum of five weeks at $1315.70.
Demand for gold slumped amid weakening geopolitical tensions on the Korean peninsula.
The US currency rallied after Friday’s dive. The US dollar index, evaluating the purchasing power of the American dollar against six key currencies, tacked on by 0.19% being worth 91.48.
As a rule, the appreciation of the American dollar makes the number one precious metal less accessible to keepers of other currencies.
The previous week, the US dollar index rallied 1.37% due to the surge in yield of US government bonds and also the prospects for accelerating the Fed's interest rate lift in 2018.
The evergreen buck was backed after the previous week's revenue of 10-year US government bonds beat the psychologically important level of 3% for the first time since 2014 that strengthened forecasts of inflation surge.
At the time of writing, the yield of US ten-year bonds inched down and ended up with a reading of 2.964%.
The recent increase in profitability generated investors’ fears of accelerating of the pace of interest rate hike, which makes the profit-making gold less attractive to market participants.
Investors' attention is focused on the forthcoming gathering of the Federal Reserve this week as well as a report on employment in America for April, which is going to be released on Friday.
According to forecasts of most market experts, as an outcome of its two-day gathering on Wednesday, the Federal Reserve is going to keep the interest rate intact after its lift in March.
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.
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.
Good morning, dear traders! Hope you’re doing great! Let’s talk about the news that is worth following today! Key market events: 15:30 MT, CAD GDP m/m 17:00 MT, GBP BOE Gov Bailey Speaks Oil is tensed again Oil rose as China refined its approach…
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Hello, dear traders! We hope you have a great day! Let’s see what news is worth following today! Market closing US stock exchanges will be closed due to the Thanksgiving holiday…
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