Gold rebounds from 4-month maximums

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.

 

Similar

Gold moves down

On Friday, gold declined, simultaneously trying to preserve its weekly profits because the USD index jumped, offsetting its abrupt weekly dive…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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