Gold slides in Asia as American tax cut clues awaited

Gold slides in Asia as American tax cut clues awaited

On Wednesday, gold declined in Asia because market participants took positions ahead of an anticipated roll-out of the Trump administration's initiative for tax cuts. They were also impressed by a more hawkish speech by the US major bank's chief.

December delivery gold futures went down 0.27% being worth $1,298.20 a troy ounce.

Overnight, gold sank as December rate-hike hopes rallied after Fed Chair Janet Yellen told that key bank requires being wary of moving gradually enough on interest rates just to avert the US economy overheating.

Yellen’s comments emerged just a day after gold ascended steeply, reacting to renewed tensions on the Korean Peninsula right after North Korea told that Donald Trump had dared to declare war on his country, thus granting him right to shoot down American aircraft flying near the peninsula.

Financial experts were quick to downplay hopes for a prolonged tumble in gold prices hinting that safe-haven demand could get back as geopolitical uncertainty was still front and center.

Similar

WTI oil: too much for bulls?
WTI oil: too much for bulls?

Oil plunged several percent on Thursday. They say, the bullish rally was just too aggressive. Let's trade the dip then!

Bitcoin crosses $50,000!
Bitcoin crosses $50,000!

Another all-time high has juts been reached by the famous crypto asset. What next? $100,000?

Latest news

Stocks that make news this week
Stocks that make news this week

Check our story about the stocks that have the potential to go either up or down big time! In this article, we'll tell you about Nvidia, Apple, Philip Morris, and Coinbase.

Deposit with your local payment systems

Learn more

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.

Callback

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 00:30:00

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