Gold stands still having dived the most for two weeks

Gold stands still having dived the most for two weeks

On Friday, the yellow metal was nearly intact in Asia because investors were still cautious after the Fed’s decision to keep interest rates on hold.

On the Comex exchange, June delivery gold futures were intact, sticking with $1,272.85 per ounce.

Gold recorded its greatest one-day percentage tumble for over two weeks on Thursday because the major US bank hit hopes of a near-term rate cut, which would have backed non-interest bearing bullion.

The Federal Open Market Committee kept the benchmark interest rate intact, which is in line with the market's hopes.

However, what sent the yellow metal down was the major financial institution’s emphasis that it didn’t see any true reason to consider a rate cut in the nearer future, referring to soaring employment as well as economic surge.

Fed Chair told that the key bank doesn’t find its policy stance appropriate at the moment and there’s no strong case for moving in any direction.  

However, traders shifted their focus to April's American jobs report as well as the non-farm payroll data, expected to be uncovered a bit later in the day.

Besides this, a report by the World Gold Council gained some attention. Well, it told that  first-quarter gold buying by key financial institutions, led by China and Russia, turned out to be the highest for the last six years.

Some experts noted a continuation of the firm demand from major banks and added that major bank buying appeared to be a major support for gold.

Experts stressed that they hope for another good year for major bank buying. 


Latest news

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.


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