Gold is nearly intact

Gold is nearly intact

On Wednesday, gold was nearly intact because traders closely watched a policy statement by the key US bank, which is expected to shed light on its interest rate plan for the rest of 2019.

On the Comex exchange, gold futures rallied by 0.1% hitting $1,307.65 a troy ounce.

Besides this, spot gold hit $1,307.90 an ounce, soaring by 0.1%.

The key US financial institution is generally anticipated to keep rates on hold. By the way, the Fed's December projection suggested two rate lifts in 2019, but it’s widely anticipated to be trimmed to just one lift.

In addition to this, the key US bank is anticipated to come up with a plan to cease decreasing its $4 trillion balance sheet, also dubbed quantitative tightening. A lot of policymakers have admitted that the key US bank will probably conclude the process and have its bond holdings stabilized by the end of 2019.

Evaluating the greenback’s purchasing value versus its primary rivals the USD index hit 95.86, which is not far from Tuesday's two-and-a-half-week minimum of 95.73.

In addition to this, palladium went up to an all-time maximum for the trading session in a row due to the fact the supply outlook tightened further.

As for spot palladium, it managed to rally by 0.4% reaching $1,594.99 an ounce after a recording a maximum of $1,603.42. By the way, it’s believed that Russia intentionally reduces palladium supply to provoke a bullish scenario. Being a key producer of this vital auto catalyst metal, Russia has put a temporary ban on the export of palladium scrap as well as tailings from May 1 to October 31 2019.      

Additionally, silver futures slipped by 0.1% hitting $15.35 a troy ounce. As for platinum, it rallied by 0.4% ending up with $855.95 an ounce.


Latest news

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