Gold prices inch down amid soaring US futures

Gold prices inch down amid soaring US futures

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.

Similar

Gold inches up

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…

Gold goes down

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…

Gold rallies to 3-month maximums

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…

Latest news

Greenback edges down

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…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

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