Yellow metal breaks below $1,200 once again

Yellow metal breaks below $1,200 once again

Anxiety over the US-China trade conflict and Brexit is keeping the yellow metal’s $1,200 perch alive, notwithstanding the evergreen buck trying to gain leverage against gold on the same fears.

Skittish trading in American equities was also helping bullion fans to stay with the precious commodity because October's rout in global stocks as well as gold's leap to four-month maximums are still recalled by them. The Dow dived by 0.8%, paring early profits because Apple became a top diver in tech equities.

The yellow metal also got a powerful boost from the rebound in crude.

Chinese leader Xi Jinping and his US counterpart are scheduled to meet at the G20 summit in Argentina in two weeks with the aim of striking a deal to reduce levies on about $360 billion worth of products flowing between the two leading economies.

As for Brexit, UK Prime Minister Theresa May gained approval for a draft pact on Britain’s withdrawal from the EU after a five-hour gathering with her cabinet colleagues.

These fears backed the yellow metal, pulling this commodity up at Wednesday's close after it waded in earlier session to below the $1,200 mark.

December delivery gold futures rallied by 0.7% hitting $1,201.10 having reached 1,215.40 earlier. The session minimum amounted to $1,198.10 per ounce. Traders guess the next resistance level for December delivery gold futures would be at $1,212.

A gauge for the US currency versus its six rivals the USD index dived on the day having approached this week’s 16-month maximum.

Among other precious metals, silver managed to ascend by 1.3% being worth $14.13 per ounce having reached $13.85, which is its lowest outcome since January 21, 2016.

As for palladium, it added 1.7 % trading at $1,110.70 per ounce. Platinum futures dived by 0.2% trading at $839.70.

Copper futures rallied by 0.7% showing $2.705 per pound.





Russian Oil Got Banned from Market
Russian Oil Got Banned from Market

This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?

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

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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