GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
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.
Similar
GOLD: approaching $1,800!
The shining metal breaks above $1,760. How soon the 2012 heights may be beaten?
Gold shines as bright as $3,000
Find out the most bullish forecast for gold!
Latest news
All attention to EUR after ECB rate statement
The European central bank will publish the main refinancing rate and make a statement on Thursday, July 16, at 14:45 MT time. Also, the ECB’s press conference will be later at 15:30 MT time.
What drives the market on July 15?
Optimism about the Moderna vaccine improved the market sentiment. Let’s have a closer look, what’s happening today.
How to trade CAD after BOC statement?
The Canadian central bank will announce interest rates and make a speech on Wednesday, July 15, at 17:00 MT time. Also, the BOC press conference will be later at 18:15 MT time.
Deposit with your local payment systems
