ONLINE FOREX BROKER
The yellow metal’s objective for $1,300 is still intact, although gold bugs don’t seem to hurry to get there, expecting equity markets to dive for the next big move up.
On Friday, on the Comex exchange, gold futures reached new six-month maximums hitting $1,284.55 a troy ounce.
However, instead of settling at those maximums in a move toward $1,300, the financial market gave back some, to conclude up 0.1% coming up with a reading of $1,280.65.
On Friday, the yellow metal’s retreat at the maximums came as American equities flitted between losses and profits.
Going into next year, financial analysts actually expect the price of the yellow metal to derive benefits from geopolitical risks as well as a weakening greenback. They actually expect physical demand for the yellow metal to go up exponentially because traders watch the American debt explode as well as the costs of entitlements getting absolutely out of hand as politicians keep neglecting all the warning signs.
Assessing the purchasing power of the American currency against its main rivals the USD index managed to hit a one-week minimum of 95.743.
For the yellow metal, it was the ninth positive settlement for 10 trading days, backed by the general decline in stocks against the backdrop of worries of a global downtime and also fears over the partial American government shutdown since the previous week. However, for the year, the yellow metal is still on track for a 2% dive.
On the Comex exchange, silver futures tacked on by 0.8% being worth $15.44 a troy ounce.
As for palladium futures, they sank by 0.8% reaching $1,185.20 per ounce. Platinum futures went down by 0.8% concluding at $789.80.
Meanwhile, copper futures managed to surge by 0.4% on the Comex exchange ending up with $2.68 per pound.
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.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on October 8, 15:30 GMT+3.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
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 will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
