Gold inches up as healthcare vote delay weighs on greenback

Gold inches up as healthcare vote delay weighs on greenback

On Wednesday, gold grew in European trade because the greenback and global stock markets pulled back, thus boosting the appeal of the number one precious metal.

Gold futures hit $1,252.52 a troy ounce, soaring approximately 0.5%. On Tuesday, gold grew to notch its fourth revenue in five sessions.

Silver futures managed to rise 1.1%, being worth $16.76 a troy ounce.

The greenback nursed its losses, having found itself under pressure overnight after American Senate Majority Leader Mitch McConnell postponed a vote on healthcare legislation until after the Senate's July 4 recess, in an attempt to gain more support from Republican senators.

Investors are concerned that the Trump administration’s going to find it difficult to follow through with tax drops as well as fiscal stimulus steps, without getting the healthcare bill passed.

As for the dollar index, traditionally measuring the US dollar versus a basket of six crucial currencies, hit 96.09, having dropped to its lowest value since November at 95.92 overnight.

Similar

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

The US Dollar May Decline
The US Dollar May Decline

Mester (Fed) says the Fed will have to raise rates again this year. However, the US dollar index shows signs of a short-term decline. Read the full article and learn more!

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. 

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.

Callback

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