Gold rebounds from 5-week maximums as trade tensions relieve

Gold rebounds from 5-week maximums as trade tensions relieve

On Monday, gold headed south, drifting away from five-week maximums after news that China and America had started talks over soaring trade tensions relieved worries over a probable all-out trade conflict.

April delivery gold futures dived 0.33% on the Comex exchange in New York being worth $1,345.4 a troy ounce.

On Friday, gold prices tacked on to a five-week maximum of $1350.40 because a weaker evergreen buck along with growing trade tensions spurred demand for the number one precious commodity.

On Monday, the Wall Street Journal informed that Beijing and Washington were discussing a possibility to improve American access to China’s markets following a week of threats to make use of trade duties.

Recent concerns that protectionist trade policies from China and the United States would result in a trade conflict have underpinned gold in the face of worries over the impact on global economic surge.

The report also revealed that the safe haven yen rebounded from 16-month maximums versus the evergreen buck and American stock futures rebounded too because investor sentiment revived.

The US dollar index, rating the greenback’s actual strength versus a basket of six leading currencies, headed south 0.15% hitting a near one-month minimum of 88.97.

Market participants cling to gold as a good store of value in times of market turmoil or geopolitical uncertainty, while a weaker greenback makes the US dollar-denominated metal more affordable for buyers of other currencies.

As for other precious metals, silver futures inched down 0.16% showing a result of $16.555 per troy ounce, while platinum futures were intact, sticking to $954.9.

As for base commodities, copper futures slumped 1.44 % hitting $2.950 a pound. As a matter of fact, recent trade fears have put pressure on prices to their weakest value since December after they reached an almost four-year maximum in 2017.



The US Payrolls Bring New Hope for Gold
The US Payrolls Bring New Hope for Gold

The Us Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on June 3, 15:30 MT time (GMT+3).

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?

Latest news

USD Gains Momentum
USD Gains Momentum

The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!

Deposit with your local payment systems

Feel the Team Spirit

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!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

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