Gold tacks on, as greenback jumps

Gold tacks on, as greenback jumps

On Friday, gold jumped a bit, while still keeping to a six-week minimum because the evergreen buck kept soaring due to the Fed’s recent interest rate lift as well as firm economic data.

December delivery gold futures jumped by 0.20% on the Comex exchange hitting $1,189.80 a troy ounce.

The yellow metal suffered after the key US financial institution had interest rates lifted for the third time on Wednesday. It definitely spurred the US currency. The number one precious commodity turns out to be very sensitive to higher rates due to the fact they back bond yields, thus making this commodity less attractive to purchasers of other currencies.

Gauging the greenback’s purchasing potential versus its primary counterparts the USD index surged by 0.29% ending up with 94.88.

Gold normally heads south each time the evergreen buck jumps because it’s denominated in the evergreen buck and it’s very sensitive to any changes in the evergreen buck. The yellow metal becomes less affordable for those who hold other currencies when the evergreen buck surges and respectively cheaper when it slumps.

Besides this, consumer spending in the United States tacked on as anticipated last month, although it was a bit lower than the previous month.

The personal consumption expenditures price index without energy and food, which appears to be the Federal Reserve's preferred inflation gauge, stood still the previous month after a leap of 0.2% in July. By the way, market experts had foreseen a 0.1% ascend.

As for other metals, they generally ascended on the Comex exchange. Silver futures added by 1.89% trading at $14.555 a troy ounce. Among other precious commodities, platinum futures jumped by 0.58% reaching $819.30. As for palladium futures, they ascended by 1.05% hitting $1,071.20 an ounce. Besides this, copper futures rallied by 0.18% trading at $2.788 a pound.



Gold is intact

On Monday, gold was nearly intact having reported three-straight winning weeks, as market participants prepared for Friday’s reports on American third-quarter surge, while monetary policy decisions this week from the ECB  and Bank of Canada are going to…

Gold inches up

On Thursday, gold ascended because bullish traders took the Fed’s latest hawkish remark in stride and also targeted the $1,250 level for the purpose of recapturing ground lost earlier in the year…

Gold goes down

On Wednesday, gold sank after a two-day rally because a strengthening greenback took some of the bullish support from the yellow commodity because the Fed uncovered details from its latest policy gathering…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

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