Gold hovers near 2-week peaks on softer greenback

Gold hovers near 2-week peaks on softer greenback

On Tuesday, gold hovered near a two-week maximum because caution surrounding American tax reform plans and upcoming US housing sector data suppressed the US currency.

In New York, gold futures gained 0.13% being worth $1,267.20 a troy ounce, which is off a two-week peak of $1,267.80 reached overnight.

Congress is believed to approve the tax bill already this week.

Market participants were waiting for reports on US building permits and also housing starts. This data is scheduled to emerge on Tuesday.  The reports are expected to provide further clues on the strength of the US housing market.

The U.S. dollar index, gauging the evergreen buck’s strength against a basket of six crucial currencies, headed south 0.10% showing 93.14.

Gold is traditionally sensitive to moves in the US currency. A weaker greenback makes gold more affordable for holders of foreign currency.

Additionally, silver futures dived 0.09% in New York being worth $16.19 a troy ounce.



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?

Will oil change the trend after OPEC-JMMC meetings?
Will oil change the trend after OPEC-JMMC meetings?

On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.

Latest news

Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

Deposit with your local payment systems

Be on top of your game

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