Gold heads south, while still underpinned

Gold heads south, while still underpinned

On Friday, gold decreased because traders locked in revenues from the number one precious metal’s recent soar to two-and-a-half week peaks amid ongoing worries over political turmoil in America.

In New York, June delivery gold futures decreased 0.17%, being worth $1,250.78.

The June contract concluded Thursday’s trading session 0.47% lower, hitting $1,252.80 an ounce.

Tracking the US dollar’s value versus six key currencies, the US dollar index slumped 0.15%, trading at 97.62, which is off Thursday’s fresh six-month minimums of 97.28.

A weaker greenback normally backs gold, as it spurs the precious metal's appeal as an alternative asset and also makes greenback-priced commodities more affordable for holders of other currencies.

In addition to this, July delivery silver futures managed to gain 0.31%, showing $16.720 a troy ounce. July delivery copper futures grew 0.14%, being worth $2.535 a pound.

 

Similar

Gold rallies more than 1%

On Thursday, gold jumped over 1%, thus getting back to the psychologically crucial mark of $1,200 because a rout in global stock markets underpinned worries over soaring bond gains, speeding down global growth, not to mention trade clashes…

Latest news

Greenback edges down

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…

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

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