Gold heads north in Asia with China’s New Year closely watched

Gold heads north in Asia with China’s New Year closely watched

On Monday, gold managed to tack on in Asia. As for Japan, this Asian country financial markets are going to be unavailable for a holiday. Meanwhile, market participants are waiting for the upcoming Lunar New Year in China expected to burst out already this week.  

As a matter of fact, April delivery gold futures inched up 0.74% in New York on the Comex stock exchange.  

This week market participants are watching for a bunch of crucial reports. These are inflation news from such countries as Germany, Great Britain and the United States.

The previous week on Friday, gold prices inched down. The given dive turned to be a fifth day of drops in the last six trading sessions because the stronger evergreen buck put pressure on the most popular precious asset, thus making it more costly for keepers of other currencies. Besides this, the major American currency was backed by soaring safe haven demand from market participants amid impressive moves in the stock as well as bond markets. On Friday, American equities ended up with higher outcomes, although they still demonstrated their most dramatic weekly losses for more than two years.

As some financial experts point out, turbulence in financial markets has been provoked by everlasting rumors that the key US financial institution might have its interest rates lifted at a faster tempo than had been previously anticipated amid evident indications of a pickup in US inflation. Apparently, expectations for higher interest rates happen to be quite dismal for gold. It’s because the number one precious metal actually struggles to take on yield-bearing assets, including Treasury’s especially when borrowing costs edge up.

The evergreen buck also gained support right after Congress along with Donald Trump officially passed a federal budget plan. As a result, an overnight federal shutdown was successfully resolved.



The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Deposit with your local payment systems

Feel the Team Spirit

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.


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

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