Online Forex broker
On Thursday, gold slumped, hitting its lowest value for a month because the evergreen buck inched up underpinned by hopes for more American interest rate lifts in 2018.
The number one precious metal has always demonstrated high sensitivity to growing American interest rates because they have the opportunity cost of keeping non-yielding bullion lifted, simultaneously spurring the US currency, in which it’s denominated.
A stronger American currency normally puts pressure on gold because it affects the commodity’s appeal as an alternative safe-haven and makes greenback-priced commodities more costly for holders of other currencies.
Comex gold futures went down to a session minimum of $1,311.70 per troy ounce. That’s the worst value observed since January 10. Last it traded at $1,314.10, losing 0.1%.
On Wednesday, gold futures concluded lower for a fourth-straight trading session. It’s because the US dollar index along with Treasury yields managed to rally, thus diminishing demand for gold.
On Thursday, the greenback's uptick kept unrolling in early trade. Versus a basket of six main counterparts, the American currency turned to be a bit higher sticking to 90.25, which is its highest value for two weeks. Additionally, the revenue on the 10-year Treasury note kept to 2.82%.
The ascend in the profits also came amidst reports that American Senate leaders finally reached a two-year budget pact to have government spending lifted by nearly $300 billion.
Besides this, focus remained on American equities that could be blamed for causing the latest turbulence in financial markets around the globe.
Unless the market dip steps up, affecting the economy, the key US bank won’t probably budge from its initiative to lift borrowing costs up to three times in 2018, as some financial experts told.
As for other metals, silver grew 0.4% hitting $16.30 a troy ounce, palladium dived 0.8% reaching $976.60 an ounce, while platinum decreased 0.3% demonstrating $978.80.
On Wednesday, gold managed to leap reaching the best levels of the trading session because data disclosed that American consumer price surge speeded down in November…
On Friday, gold headed south…
On Tuesday, the yellow metal managed to surge in Asia…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
