Gold revives from 6-week minimums ahead of Yellen speech

Gold revives from 6-week minimums ahead of Yellen speech

On Tuesday, gold soared in European trade, reviving from the previous session's six-week minimum because traders looked ahead to comments from Fed Chair Janet Yellen for further signs as for the US major bank's probable rate lift trajectory through the end of 2017.

In New York, gold futures showed $1,251.60 a troy ounce, ascending about 0.4%. The commodity edged down to its lowest value since May 17.

On Monday, gold went down steeply, with prices marking their first dip in four sessions because a huge sell order as well as a stronger greenback impacted sentiment.

Meanwhile, silver futures tacked on 0.4%, demonstrating $16.63 a troy ounce, reviving from the previous session's seven-week minimum of $16.22.

The Fed lifted interest rates for the second time in 2017 and also kept to plans to go ahead with another rate lift by year-end.

Besides this platinum grew 0.7%, trading at $924.15, palladium jumped 0.3%, being worth $866.52 an ounce.

 

 

Similar

Popular

Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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