Gold slides in Asia on diving India’s physical support

Gold slides in Asia on diving India’s physical support

On Friday, gold slumped in Asia. It’s because support from physical demand during the festive season in India didn’t manage to back market sentiment.

December delivery gold futures dived 0.31% in New York being worth $1.286.01 a troy ounce.

Market participants will also monitor the upcoming election in Japan.

Overnight, gold edged up because a jump in political uncertainty in Spain put pressure on risk sentiment. Meanwhile, everlasting dollar weakness contributed to upside momentum in the number one precious commodity.

Also backing demand for gold was a dive in the evergreen buck amid a decline in treasury yields notwithstanding data indicating underlying strength in the American economy.

On Thursday, the Philadelphia Fed told that in September its manufacturing index inched up to 27.9, from 23.8, thus confounding experts’ forecast of an outcome of 22.

On Thursday, the US Department of Labor informed that initial jobless claims slumped 22,000 to a seasonally adjusted 222,000 by October 13.

Similar

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?

Will oil change the trend after OPEC-JMMC meetings?
Will oil change the trend after OPEC-JMMC meetings?

On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.

Latest news

Can the UK CPI surprise?
Can the UK CPI surprise?

The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.

The US Retail Sales Update
The US Retail Sales Update

The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.

Deposit with your local payment systems

Be on top of your game

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

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