Find out the main drivers for this week
Gold rebounds from 4-month maximums
On Wednesday, gold slumped in early trade, rebounding from its strongest value for four months because the evergreen buck soared versus a currency basket.
A stronger greenback normally weighs on the number one precious metal because it dampens gold’s appeal as an alternative asset and also makes greenback-priced commodities less affordable for holders of other currencies.
Gold futures hit $1,335.50 a troy ounce, sliding approximately 0.1% from the previous session's close. Yesterday it reached the best value since September 8 sticking to $1,345.00.
At the same time silver futures were nearly intact, being worth $17.19 a troy ounce. On Monday this commodity hit a three-month maximum of $17.42.
As for other metals, palladium rallied 0.7% showing an outcome of $1,096.60 an ounce. On Monday the metal marked a record-maximum of $1,133 due to ascending demand for the car industry.
Meanwhile, March delivery copper futures sagged 0.6% hitting $3.201 a pound.
The price for WTI has risen to its highest levels since the beginning of May.
On Wednesday, the yellow metal managed to extend gains for the fourth consecutive day, while other metals are going down…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.