Online Forex broker
On Thursday, the yellow metal managed to surge, hitting a 6-month maximum due to the fact that a less-hawkish main US bank led to a weaker evergreen buck, thus underpinning the US dollar-denominated precious commodity.
On the Comex exchange, February delivery gold futures managed to jump by approximately 0.41% ending up with $1,261.50 per troy ounce. By the way, its intraday maximum of $1,265.65 turned out to be its highest value since June 26.
Besides this, the USD index, traditionally utilized to gauge the purchasing potential of the major American currency versus its main rivals, slipped by about 0.34% ending up with 96.15.
Although the Fed had rates lifted as anticipated on Wednesday, but policymakers tamed their expectations for lifts in 2019 narrowing them to just two versus the earlier three estimated in the September forecasts.
In general, financial markets are still downbeat, with odds sticking with 50% for just one rate lift at the end of 2018.
In addition to this, skittishness in equities also gave some support to the safe-haven precious metal because traders had assets reallocated.
A number of financial analysts pointed to the fact that the price $1,300 for gold wasn’t unreal, but just trickier.
It feels like the path to $1,300 is still alive for the yellow metal. However, the most popular precious commodity will have to count on the stock market getting affected by worries of extra rate lifts as well as the evergreen buck still lifeless.
As for other metals, silver futures declined by about 0.17% ending up with a reading of $14.793 a troy ounce by 11:25 AM ET.
As for palladium futures, they declined by 0.66% trading at $1,193.40 an ounce. Besides this, platinum futures dipped by 0.59% hitting $791.30.
Copper futures dived by 1.22% trading at $2.683 a pound.
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.
Sudden spikes? Yes, please! Gold is above $1,800, finally!
During the recent days, silver made a spectacular rise to $30. Not only gold shines, it seems! It's all still an echo of Reddit, though...
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
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.
|
