Metals are mixed notwithstanding sliding greenback

Metals are mixed notwithstanding sliding greenback

On Monday, metal prices demonstrated mixed performance because gold stood still notwithstanding a sliding evergreen buck ahead of the Fed’s monetary policy decision to be uncovered later this week.

August delivery gold futures inched down by 0.07% on the Comex exchange hitting $1,222.10 a troy ounce, although staying below an intraday maximum of $1,218.10.

The number one precious metal traded in rather a tight range. The commodity struggled to take advantage of a declining US currency ahead of the Fed’s highly anticipated monetary verdict.

Estimating the evergreen buck’s purchasing power versus its main rival, the USD index headed south by approximately 0.40% coming up with an outcome of 94.07.

Wednesday's Fed gathering is expected to be a non-event due to the fact the key bank isn’t anticipated to have rates lifted or make tweaks to the balance sheet normalization schedule soon.

Up to 96.9% of investors expect the major US bank to leave its rates on hold.

For the last three months gold has lost approximately 8% and it also lost 11% from 2018 maximum because market sentiment on this precious commodity has weakened. Market experts kept ramping up their bearish bets on the most popular precious metal.

According to CFTC COT data, money managers cut their net long positions in gold futures from 57,800 lots to approximately 48,600 lots by July 27.

However, the wider metal markets capitalized on the weaker greenback because aluminum as well as prices went up abruptly.

Copper prices headed south by 0.18% hitting $2.80. At the same time, zinc edged down by 1.23% being worth 2,557.25.

As for aluminum prices, they managed to leap by nearly 1.14% hitting 2,084.50. Additionally, nickel futures rallied by 0.82% trading at 13,895.00.

Besides this, silver futures tacked on by 0.24% coming up with an outcome of $15.53 a troy ounce, and  platinum futures dived by 0.01% demonstrating $831.60.



Something more Important than NFP
Something more Important than NFP

For a long time, traders considered American Non-farm Payrolls (NFP) the most important release in the market. However, the situation has changed. Now US CPI moves financial markets.    

Latest news

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Deposit with your local payment systems

Feel the Team Spirit

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