On Thursday, the yellow metal headed south in Asia due to the fact that recent economic data indicated an improved economic surge outlook and also put pressure on the safe-haven commodity…
Yellow metal tops $1,300
On Friday, gold futures managed to shot up above $1,300 an ounce, thus finding themselves on track for a weekly leap because the evergreen buck rebounded and market participants closely watched geopolitical turmoil as well as global surge fears.
Soaring gold prices actually reflect political uncertainty in the euro zone, America, Venezuela as well as pockets of South America, not to mention China-US trade negotiations, as some experts pointed out.
On the Comex exchange, February delivery gold futures GCG9 managed to ascend by 1.42% being worth $1,302.70. Tor the week the April contract tacked on by 1.1%. By the way, it hasn’t concluded above $1,300 since January 3.
Besides this, March delivery silver futures SIH9 jumped by 2.4% ending up with a reading of $15.665 an ounce. For the week they surged by 1.7%.
The evergreen buck has declined ahead of next week’s Fed gathering in the face of soaring hopes that the major US bank will once again draw attention to the necessity to have its interest-rate lifting cycle paused.
A traditional indicator of the purchasing power of the greenback versus its primary rivals, the USD index dived by 0.7%. Eventually, a weaker greenback can back dollar-priced commodities, making them cheaper to folks holding other currencies.
As for other metals, March delivery palladium futures PAH9 managed to ascend by 1.3% being worth $1,297.60 an ounce. Besides this, April delivery platinum futures PLJ9 tacked on by 1.6% ending up with $817.70 an ounce and soaring by up to 1.9% for the week.
Moreover, March delivery copper futures HGH9 went up by 2.4% trading at $2.708 a pound, although looked at a 0.4% weekly dive.
As for the SDPR Gold Shares GLD, they jumped by 1%, braced for a 1.1% weekly ascend. Moreover, the VanEck Vectors Gold Miners ETFGDX rallied by 2.7%.
On Wednesday, gold was nearly intact, sticking with a four-month minimum because better-than-anticipated economic data from China kept global appetite for risky assets healthy and also tamed demand for havens…
On Tuesday, the yellow metal went down in Asia against the backdrop of more positive developments in the China-US trade negotiations…
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…