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On Tuesday, gold prices declined, losing some of their surge recorded at the last session. Futures on American stock markets pointed to surge after yesterday's sell-off, which reduced the demand for protective assets.
June delivery gold futures on a subdivision of the New York Mercantile Exchange, the Comex managed to acquire 0.42% coming up with $1341.1 per troy ounce.
On Monday, gold prices rose 1.44% amid worsening investor sentiment after the sale of technology companies, which led to a drop in quotations on Wall Street. Market participants are used to buying gold to save their money in times of political or economic instability.
The decline in the value of shares of technology companies in recent weeks has been associated with deep concerns about the misuse of user data by Facebook. Another factor of decline was the possibility of changing the tax regime for Amazon.
On Tuesday, American equities pointed out to a definite recovery at the opening generally neglecting a decline in stock markets in the European Union as well as Asia during night trading.
Investors are still apprehensive after China dared to impose extra duties on the import of some American goods. It led to increased disagreement between the two largest economies of the world and raised concerns about global economic growth.
It’s highly anticipated that this week the Trump administration is going to publish a list of Chinese goods, to which fresh duties are going to be imposed.
As for other metals, silver futures headed south 0.79% on the Comex demonstrating a reading of $16.54 per troy ounce. At the same time platinum futures managed to tack on 0.09% ending up with $937.30.
In addition to this copper futures inched up about 0.36% offering an outcome of $3,061 per pound.
What will happen? The Organization of the Petroleum Exporting Countries and 10 additional oil-exporting countries, including Russia, will hold a videoconference on July 1…
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
Sudden spikes? Yes, please! Gold is above $1,800, finally!
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The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).
Quadruple witching is gone and now there are no reasons for the market to hinder. From banks statements and economic data to gas storage reading and Fed’s Powell speech – get ready for active trading.
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