Gold rebounds from 1-week minimum

Gold rebounds from 1-week minimum

On Tuesday, gold surged, rebounding from a one-week minimum because soaring American bond gains as well as fears over the outlook for global surge backed market sentiment.

December delivery gold futures gained by 0.27% on the Comex exchange ending up with $1,191.8. On Monday, the yellow metal concluded at $1,184.40, which is the lowest settlement since September 28.

The yellow metal’s profits came as equity markets were still pressured by the move higher in American Treasury yields that sent the revenue on 10-year Treasury notes to another seven-year maximum earlier on Tuesday.

By the way, the sell-off in Treasuries has been backed by hopes for a potentially faster tempo of rate lifts from the key US bank.

Hopes for soaring interest rates will probably be still a headwind for the number one precious metal. Interest rate lifts as well as greater American bond gains affected appeal for the yellow metal that provides no yield.

Risk aversion mounted too after the International Monetary Fund had its global surge forecast downgraded, adding that trade clashes are starting to have a considerable impact on the world’s economy.

The IMF had its outlook for China, America, Great Britain and the EU downgraded, telling that it currently expects the world’s economy to expand by about 3.7% this year and also in 2019, versus the previous estimate of 3.9%.

Estimating the American dollar’s purchasing potential against a pack of its primary opponents the USD index hit 95.50, which is not far from its six-week maximum of 95.78 hit the previous week.

A stronger evergreen buck makes dollar denominated assets, such as the yellow metal, less affordable to potential purchasers who hold other currencies.

Besides this, December delivery silver futures gained 0.55% being worth $14.40 a troy ounce.

December delivery copper futures strengthened by 0.8% hitting $2.788.





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’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

Deposit with your local payment systems

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!

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