
Congratulations! Gold has just opened a new era... or, rather, reopened...
On Friday, gold headed south. The yellow metal found itself on track to report its greatest weekly ascend since August after market turmoil, which sent equities reeling and put pressure on Treasury yields as well as the evergreen buck.
On the Comex exchange, February delivery gold futures GCG9 rallied by 0.2% being worth $1,246.10 an ounce. March delivery silver futures SIH9 managed to head north by 0.2% ending up with $14.545 an ounce. For the week, the yellow metal surged by 1.6% that would be the most impressive such gain since a 2.5% leap by August 24. The yellow metal is trading near a five-month maximum, trimming its year-to-date tumble to 4.8%.
However, the weekly surge has left some experts unimpressed in the face of a steep selloff in global stocks, a dive in the evergreen buck as well as bond gains, and market participants started scaling back hopes for future interest-rate lifts by the key US financial institution.
On Thursday, American shares slumped steeply. Ahead of the publication of November jobs data, stock index futures started lower.
Estimating the purchasing potential of the US currency versus its primary counterparts the USD index surged by up to 0.1% Friday, although diving by 0.4% for the week. Besides this, the gain on the 10-year Treasury note TMUBMUSD10Y bounced off nearly 2.6 basis points from a three-month minimum ending up with 2.897%.
A weaker evergreen buck is capable of boosting commodities priced in the US currency because it makes it more affordable to keeper s of other currencies. By the way, lower bond yields can also be good for commodities that don’t provide a yield.
January delivery platinum futures PLF9 went down by 0.4% ending up with $786.20 an ounce. Moreover, March delivery palladium futures surged by 0.1% trading at $1,143 an ounce.
Congratulations! Gold has just opened a new era... or, rather, reopened...
The shining metal breaks above $1,760. How soon the 2012 heights may be beaten?
Find out the most bullish forecast for gold!
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
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
Manager will call your number
Next callback request for this phone number
will be available in {time}
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.