Online Forex broker
On Wednesday, gold prices stuck to a minimum for two weeks in the face of a soaring evergreen buck and also the revenue of American Treasury bonds.
On the Comex exchange June delivery gold futures dived by 0.54% ending up with $1325.9 per troy ounce. It’s a bit higher than the minimum recorded on Monday for two weeks, which accounted for $1323.80.
The US dollar index, normally evaluating the purchasing potential of the American currency versus the pack of six leading peers, surged 0.3% showing a peak for seven weeks of about 90.82.
The evergreen buck rallied due to the growth in revenues in US government bonds as well as the prospect of accelerating the Fed's interest rate lift in 2018.
A higher interest rate normally backs the greenback because it attracts the attention of profit-seeking investors. The revenue of 10-year US government bonds surpassed 3% on Tuesday for the first time since 2014. It drops a hint that investors are confident in in the good future of the US economy.
Published on Tuesday, data uncovered that the volume of construction of new homes as well as consumer confidence in America turned to be better than analysts' estimates, which strengthened the forecasts of a stable surge of the American economy in the nearer months.
An ascending US currency makes the key precious metal less accessible to keepers of other currencies. At the same time, a leap in the yield of American government bonds drove investors’ fears about the accelerating rate of the Fed's interest rate leap. Increasing the interest rate normally provokes a dive in gold prices.
As for other precious commodities, silver futures decreased by 0.8% on the Comex exchange being worth $16.57 per troy ounce. As for platinum futures they dipped 0.97% reaching $925.90.
Additionally, copper futures declined 0.35% coming up with $3.13 per pound.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on November 5, 14:30 GMT+2.
United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on October 8, 15:30 GMT+3.
Optimistic forecasts on oil prices, nuclear talks with Iran, and upcoming OPEC+ meeting. How to trade oil these days?
OPEC-JMMC meetings will be hosted on Thursday, December 2 during the whole day.
ISM Manufacturing PMI will be announced at 17:00 MT (GMT+2) on Wednesday, December 1.
The Eurozone will publish the Indicator of GfK Consumer Confidence on November 25, at 09:00 GMT+2.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
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 will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
