Yellow metal extends mild recovery after mixed American data
On Thursday, gold extended a mild revival in the face of mixed American data as well as a stock market stabilizing near record maximums…
Gold loses on surging greenback
On Monday, gold went down, as the evergreen buck kept adding on hopes for a Fed rate lift in December.
December delivery gold futures slipped by 1.27% on the Comex exchange trading at $1,190.30 a troy ounce.
The yellow precious commodity was suppressed after Friday’s jobs report underpinned expectations that the primary US financial institution is on the verge of lifting rates.
The American economy managed to generate fewer jobs than anticipated in September, although unemployment hit a 48-year minimum. That’s a definite sign that the US economy is currently at full-employment.
Gold normally goes down, as the evergreen buck heads north, as it’s denominated in the American dollar and respectively ultra-sensitive to any moves in this crucial currency. Bullion gets more costly for those who hold other currencies when the greenback surges and accordingly more affordable when it loses.
Tracking the US dollar’s purchasing potential against several its primary counterparts the USD index inched up by up to 0.23% ending up with 95.53.
The bond market was unavailable in observance of Columbus day, although on Friday the United States 10-Year note managed to hit its highest value observed since 2011 following the jobs figures.
Higher interest rates ramp up bond profits, thus making non-interest bearing gold less tempting to market participants. They also tend to back America’s major currency, thus making dollar-priced yellow commodity less affordable for keepers of other currencies.
On the Comex exchange other metals generally declined. As a matter of fact, silver futures went down by 2.11% coming up with a reading of $14.340 a troy ounce. As for other precious commodities, platinum futures dipped by 0.69% trading at $818.80. In addition to this, palladium futures lost 0.23% trading at $1,054.70 an ounce. As for copper futures, they headed north by 0.22% trading at $2.771 a pound.
Similar
USD/JPY slides to the 2-weeks low
Bulls could not hold yesterday's gains for USD/JPY.
Gold rallies as American stock-market surge seems set to pause
On Wednesday, the yellow metal surged because a leap in shares, which took two of the three key American stock indexes to record peaks, cooled…
Latest news
Weekly CryptoNews
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
Most Asian stocks post strong revenues with Nikkei rising more than 2%
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan real wages surge is slowest in almost two years
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Deposit with your local payment systems
