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

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