Gold rallies notwithstanding progress in US-China trade talks

Gold rallies notwithstanding progress in US-China trade talks

On Monday, the yellow metal surged in Asia notwithstanding a firmer-than-anticipated American job data, which revealed that employment soared from a 17-month minimum.

On the Comex exchange, gold futures managed to tack on by up to 0.4% ending up with $1,300.55 an ounce.

The yellow metal started April lower right after China’s Caixin index informed that the Chinese manufacturing sector was reviving from a steep deceleration.

In addition to this, reports that China and America have tackled most of the issues in their everlasting trade clash raised Asian stocks. The yellow metal, normally moving in directions opposite to risky assets, went up too notwithstanding the news.

The two trading partners were reportedly still arguing over how to enforce and implement a trade deal. China’s official broadcast CCTV informed that there was fresh progress in trade negotiations, which concluded last Friday in Washington, while Larry Kudlow, Trump’s top economic adviser told that the two sides are much closer to a trade deal.

As for other news, although not a directional driver, on Monday, Bloomberg informed that China managed to have its gold reserves expanded for the fourth month in a row.

Referring to data uncovered on the People’s Bank of China’s web resource, the article told that in March, China’s major financial institution ramped up reserves to 60.62 million ounces from 60.26 million in February.

By the way, China appears to be both the world’s number one gold consumer and producer.

Gauging the evergreen buck’s purchasing potential versus a group of other currencies the USD index slumped by 0.1% hitting 96.860.

The currency pair USD/JPY slumped by 0.3% reaching 111.39.

Additionally, AUD/USD dived by 0.1% being worth 0.7093.


Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

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

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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