Gold reaches new high
The price for the yellow metal has crossed the level at $1,341.
Gold prices go down from 1-month maximum as risk sentiment gets back
On Tuesday, the yellow metal rebounded from a one-month maximum, breaking a three-day winning marathon due to the fact that risk aversion receded in financial markets.
On the Comex exchange, June delivery gold futures headed south by approximately 0.4% concluding the trading session at $1,323.55 a troy ounce, rebounding from what a day earlier had been its highest outcome since February 28.
Eventually, panic over the inversion of the bond yield curve in America that provoked a tumble in equities last Friday and resulted in purchasing of haven assets receded due to the fact that policymakers along with analysts had the temporary nature of the event downplayed.
The vast majority of experts are assured that the inversion should last a significant amount of time, even a quarter, and only in this case it could indicate a downtime, as some financial analysts pointed out.
On Monday, Chicago Fed chief Charles Evans told that he’s still assured that everything will be OK with the US economy. The statesman added that the yield inversion was probably flatter than normal because of lower trend surge as well as lower interest rates.
Now let’s have a closer look at other metals. As a matter of fact, silver futures headed south by about 0.5% ending up with $15.492 a troy ounce.
As for palladium futures, they went down by about 1.5% demonstrating an outcome of $1,520.90 an ounce. Besides this, platinum declined by almost 0.1% being worth $862.30.
As for base metal commodities, copper managed to tack on by approximately 0.1% trading at $2.859 a pound.
Similar
5 important events this week will bring us!
Find out the main drivers for this week
Prices for oil rise
The price for WTI has risen to its highest levels since the beginning of May.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
