Gold keeps to 6-month maximums as greenback, equities struggle

Gold keeps to 6-month maximums as greenback, equities struggle

On Monday, gold futures tried new six-month maximums because bullion marked early profits, backed by a weaker greenback.

Eventually, metals were suppressed by dismal, although muted, stock trade ahead of the Christmas holiday. In general, risk assets were quite calm due to the White House tension over the key US bank, with reports drawing enhanced attention to American leader’s ire over surging interest rates and the fact that he’s unable to remove Fed Chair Jerome Powell just over policy disagreement.

In addition to this, Treasury Secretary Steven Mnuchin came up with a statement having to do with credit market stability after several calls to key financial institutions. Financial experts pointed to a muted reaction in stock markets, although they stressed that the statement risked affecting confidence over liquidity when there had been minor immediate concern. Some experts are assured that the year-end objective of $1,275 can be reached, as the everlasting situation in American generally favors it. They added that any weakness in the stock markets can potentially drive the current surge.  

In the face of it, February delivery gold futures GCG9 managed to ascend by 0.6% on the Comex exchange being worth $1,265.10 an ounce. The previous week the contract reported a weekly soar of nearly 1.4%, backed mostly by its settlement at $1,267.90 on Thursday, which appears to be the highest outcome since June 25.

On Globex, gold futures trading closed early at 12:30 ET. On Tuesday, financial markets will be unavailable for the Christmas holiday.

Besides this, the USD index went down by almost 0.2%.

In spite of the fact, gold prices, based on the most-active contracts, have ascended for recent months, adding 5% higher quarter to date, for the year so far they’ve tumbled by about 4%.  


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

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

US Evades Default This Time
US Evades Default This Time

Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

Deposit with your local payment systems

Feel the Team Spirit

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