Gold ascends due to diving US dollar
On Thursday, the leading precious commodity managed to leap against in the face of the depreciation of the evergreen buck…
Gold goes down in Asia after Fed lift
On Thursday, gold dived in Asia as a widely expected interest rate lift by the Fed provided room for caution, though the major American currency failed to respond steeply providing room for support.
In New York, August delivery gold futures tumbled 0.68%, trading at $1,267.18 a troy ounce. As for copper futures, they gained 0.31%, being worth $2.572 a pound.
Overnight, gold found itself under pressure, after the Fed lifted interest rates for the second time this year and also maintained its outlook of three total rate lifts for 2017.
On Wednesday, the Fed dared to lift its major interest rate by 0.25%. The current range accounts for 1.00%-1.25%.
The major US bank told it expects a tightening labor market to raise inflation to the 2% objective over the medium term.
The bullish comments on inflation along with extra rate lifts pushed the greenback into positive territory versus a basket of global currencies and bringing the number one precious metal to session minimums.
Similar
Gold moderately ascends, while keeping to this year’s low
On Tuesday, gold changed insignificantly, keeping close to the minimum of 2018, which was recorded at the last trading session…
Gold inches down to year’s minimum
On Monday, market participants were selling metals as well as other assets, which are traditionally referred to as "safe havens" due to the weakening fears of a trade conflict between the United States and China…
Popular
America will probe German and Japanese car makers over alleged patent violations
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
Gold edges down toward 3-week minimum after Congress hits spending deal
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
Crude edges down in Asia on Caixin PMI
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
Deposit with your local payment systems
