Gold goes up on weaker greenback

Gold goes up on weaker greenback

On Tuesday, the yellow metal managed to surge in Asia. It became possible due to the fact that the evergreen buck went down on easing US-China trade fears.

As a matter of fact, on the Comex exchange, February delivery gold futures inched up by up to 0.3% ending up with a reading of $1,242.9 a troy ounce.  

In addition to this, tracking the evergreen buck versus a group of other key currencies the USD index was last seen at 96.667, heading south by nearly 0.31%.

The index inched down right after American leader Donald Trump and his Chinese opponent Xi Jinping pledged to stop the introduction of new levies for up to 90 days. That’s what Chinese Foreign Minister Wang Yi informed.

The evergreen buck also lost its upward momentum for the last time on dovish signs from the Federal Reserve that has indicated a probable pause in interest rate lifts after a widely-anticipated December lift.

A number of financial analysts pointed out that the yellow metal is currently less worried about the major US financial institution and it’s starting to notice inflationary signs from agriculture, crude as well as non-tariffs.

Nevertheless, other experts were still skeptical that bullion prices would keep getting a firm bid in the nearest future.

Currently, the big question on everybody’s mind is what investors should do with the number one precious commodity.   

Some experts are assured that there will be a considerable sell-off in the USD Index after the news. They don’t actually expect the price of the yellow metal to demonstrate a sustained leap at this time.

The evergreen buck dived to more than one-week minimums versus the Japanese yen. The currency pair USD/JPY dived by 0.62% being worth 112.96.

The currency pair GBP/USD surged by 0.39% being worth 1.2772.

 

 

Similar

Latest news

German exporters don’t care about stronger euro

German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…

Japan's October machinery orders tack on

In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

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