Gold inches down amid inflation worries

Gold inches down amid inflation worries

On Friday, gold edged down due to the fact that inflation data indicated steady interest rate lifts by the primary US financial institution.

December delivery gold futures went down by 1.17% on the Comex exchange being worth $1,211.90 a troy ounce.

The higher-than-anticipated numbers underpin the US major bank’s gradual rate lift policy that helped boost the evergreen buck. On Thursday, the Federal Reserve held interest rates intact, as most investors had hoped for, although it remained on track to keep tightening its policy.

The main US financial institution had American interest rates lifted three times in 2018. Many analysts are assured that the bank will do it in December once again.

As a matter of fact, Interest rate lifts affect appeal for the yellow metal, while backing the evergreen buck.

Gauging the purchasing potential of the major US currency versus a number of its key rivals the USD index rallied by 0.05% being worth 96.60.

The number one precious commodity normally dives when the evergreen buck jumps due to the fact it’s denominated in the greenback. The yellow metal becomes less affordable for those who hold other currencies when the US currency leaps and more affordable when it slumps.

Besides this, poor economic global surge worried traders because producer prices in China have been diving for the fourth month in a row, raising more fears that the world’s number two economy is struggling because it has to tack on America in a trade conflict.

On Thursday, Chinese leader Xi Jinping told that China’s cabinet is eager to tackle issues with America through negotiations, although Trump should respect the Asian trade partner’s choice of development path as well as interests.

Furthermore, silver futures declined by about 2.67% trading at $14.135 a troy ounce. Copper futures lost 1.50% demonstrating $2.696 a pound.





Something more Important than NFP
Something more Important than NFP

For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.    

Latest news

NFP, Oil, and US Stocks Highlight This Week
NFP, Oil, and US Stocks Highlight This Week

Welcome to the first week of October!  As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events. 

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

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!

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