Forex News 24
  • RSS

news

Gold inches up on softer greenback and trade tensions

Gold inches up on softer greenback and trade tensions
админ
02/04/2018
gold 300x195 - Gold inches up on softer greenback and trade tensions

On Monday, gold managed to surge, underpinned by the softer evergreen buck as well as escalation in trade tensions between China and America that backed safe haven demand for the number one precious commodity.

June delivery gold futures tacked on 0.6% on the Comex, New York ending up with an outcome of $1,335.3 per troy ounce.

On Monday, China announced that it’s ramping up duties by approximately 25% on certain American imports. That’s an attempt to respond to American duties on imports of steel and aluminum.

The given move powered trade tensions between the world’s two leading economies. A great number of investors are afraid that these tensions could evolve into a hazardous trade conflict and give a mighty blow to the world’s economy.

Appreciating the greenback’s value against a group six major currencies, the US dollar index headed south 0.21% offering an outcome of 89.56.

Market participants tend to cling to the most popular precious metal as a store of value when facing times of political or economic uncertainty.  Besides this, a weaker evergreen buck makes greenback-denominated commodities more affordable for keepers of other assets.

Trade volumes felt like staying low on Monday with financial markets in Europe unavailable for the Easter holiday, meanwhile American markets were expected to get back after the Good Friday holiday.

Market participants were eager to get actual data from the Institute for Supply Management. To be exact they require American manufacturing index anticipated to show up a bit later in the day.

As for other precious metals, silver futures managed to inch up 1.12% showing an outcome of $16.450 per troy ounce. Platinum futures surged 0.99% offering a result of $941.80.

As for base metals, copper futures ascended 1.21% being worth $3.062 a pound.

Source

Related ItemsamericanChinaComexcommoditydeliverydelivery golddollar indexeconomicEuropefinancial marketsfuturesgoldmajor currenciesmarketsmetalNew Yorkper troy ounceprecious commoditysilvertradetroy ounceUSUS dollar

Leave a Reply

Cancel reply

Your email address will not be published. Required fields are marked *

Anti-spam: complete the taskWordPress CAPTCHA


news
02/04/2018
админ
Related ItemsamericanChinaComexcommoditydeliverydelivery golddollar indexeconomicEuropefinancial marketsfuturesgoldmajor currenciesmarketsmetalNew Yorkper troy ounceprecious commoditysilvertradetroy ounceUSUS dollar

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

Forex today: markets are on holidays
China and U.S Tit-for-Tat Tariffs Start