Gold grows in Asia as weaker greenback aids buying

Gold grows in Asia as weaker greenback aids buying

On Monday, gold prices soared moderately in Asia because market participants noted the weaker greenback as key bank chiefs in Wyoming dodged policy discussions as well as the impact of Hurricane Harvey on the American surge outlook was being considered.

December delivery gold futures rallied 0.14% being worth $1,299.66 a troy ounce.

Friday’s American jobs report for August is closely monitored this week to figure out how it’s going to impact on the path of Fed policy. Market participants will also be monitoring a revised outcome of American second quarter surge.

UK financial markets are unavailable on Monday.

The previous week, gold concluded higher in a volatile trading session on Friday, thus reversing earlier dips because the American dollar dipped after Fed Chair Janet Yellen's remarks at Jackson Hole didn’t specially address monetary policy.

By the way, a weaker greenback traditionally makes the dollar-denominated metal more affordable for foreign buyers.

 

 

Similar

Gold fell below $1,700

Gold (XAU/USD) is declining for the second day in a row. The reason of such a dynamic is that investors have turned to stocks.

Latest news

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.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

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