Online Forex broker
On Friday, gold leapt because market participants rushed to safe-have assets. Meanwhile, American leader came up with higher duties on Turkey.
December delivery gold futures rallied by 0.13% on the Comex exchange hitting $1,213.93 a troy ounce.
On Twitter Donald Trump wrote that he has just ordered to double duties on Turkish aluminum and steel because their national currency, the Turkish lira goes down abruptly versus the greenback. As US leader told, from this moment the duty on aluminum will account for 20%, and the duty on steel would ascend to 50%. Trump confessed that America’s relations with Turkey are bad now.
The president’s statement affected markets and the selloff in Turkey’s currency depended – it headed south by 20% versus the evergreen buck hitting an intraday minimum.
The stock markets were affected, especially in the European Union, where investors were concerned over financial institutions’ exposure to Turkey.
However, the risk-off sentiment affected American equities too because traders decided to shift to safe-haven assets, including gold.
Capping profits in the number one precious commodity was an ascending greenback – this currency managed to soar to a 14-month maximum versus its key counterparts.
Inflation data gave rather a mixed picture because the headline consumer price index suddenly stood still at 2.9%, although the core reading, excluding energy and food demonstrated a shocking 2.4% acceleration.
The data actually backs the case for the key US bank to move ahead with its initiative to have interest rates lifted twice more in 2018. Soaring interest rates affect demand for the most popular precious metal.
As for other metals, silver futures tacked on by 0.60% being worth $15.370 a troy ounce.
Palladium futures tacked on by 0.51% hitting $903.00 an ounce. As for platinum, it sank by 0.05% reaching $833.70.
Copper futures dipped by 0.20% demonstrating $2.760 a pound.
On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…
On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…
On Monday, gold surged nearly 1% hitting the highest value for three months because a combination of fears over soaring American yields as well as the impact of trade clash, along with geopolitical risks and also a weaker greenback, backed demand for the…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
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…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
