ad
Forex Brokers Award 2020
Vote your favourite broker
Trade 100 Bonus - the best offer on Forex market

What’s next? – GOLD 11.04.18

Apr 11 2018, 01:13 PM (+06) | Fortfs.com

Gold futures traded moderately lower in Asian hours on Wednesday, with market participants awaiting key data releases later in the session.

 

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.06 percent at $1.345.10 a troy ounce as of 06:45 GMT.

 

On Tuesday, the precious metal held to green territory on the back of a weaker greenback and heightened geopolitical tensions as investors awaited Trump’s decision on Syria.

 

White House Press Secretary Sarah Sanders announced on Tuesday that President Donald Trump will not be attending the 8th Summit of the Americas in Lima, Peru and neither he will visit Colombia as originally planned for these dates.

 

“[The President] will remain in the United States to oversee the American response to Syria.”

 

The administration insists that a military option is still on the table as a possible response to an alleged chemical weapons attack in Syria conducted by Bashar al-Assad’s regime.

 

“We have a lot of options, militarily. And we'll be letting you know pretty soon," President Trump said to a group of journalists on Monday.

 

The US dollar index, which gauges the greenback against six major currencies, was trading 0.10 percent higher at 89.62 by the time of this writing.

 

Dollar-denominated gold is very sensitive to moves in the American currency. A weaker dollar makes the yellow metal more attractive for investors holding foreign currencies.

 

Market players continued to weigh developments over the trade dispute between China and the United States. China’s president Xi Jinping has recently adopted a reconciliatory tone that calm investors around the world as he announced reduction on import tariffs for vehicles, measures to encourage imports and more severe controls in the protection of intellectual property.

 

Ahead in the day, the consumer price index for March is coming at 12:30 GMT, while the Federal Budget Balance will be out at 18:00 GMT.

Gold futures traded moderately lower in Asian hours on Wednesday, with market participants awaiting key data releases later in the session.

 

On the Comex division of the New York Mercantile Exchange, gold futures were down 0.06 percent at $1.345.10 a troy ounce as of 06:45 GMT.

 

On Tuesday, the precious metal held to green territory on the back of a weaker greenback and heightened geopolitical tensions as investors awaited Trump’s decision on Syria.

 

White House Press Secretary Sarah Sanders announced on Tuesday that President Donald Trump will not be attending the 8th Summit of the Americas in Lima, Peru and neither he will visit Colombia as originally planned for these dates.

 

“[The President] will remain in the United States to oversee the American response to Syria.”

 

The administration insists that a military option is still on the table as a possible response to an alleged chemical weapons attack in Syria conducted by Bashar al-Assad’s regime.

 

“We have a lot of options, militarily. And we'll be letting you know pretty soon," President Trump said to a group of journalists on Monday.

 

The US dollar index, which gauges the greenback against six major currencies, was trading 0.10 percent higher at 89.62 by the time of this writing.

 

Dollar-denominated gold is very sensitive to moves in the American currency. A weaker dollar makes the yellow metal more attractive for investors holding foreign currencies.

 

Market players continued to weigh developments over the trade dispute between China and the United States. China’s president Xi Jinping has recently adopted a reconciliatory tone that calm investors around the world as he announced reduction on import tariffs for vehicles, measures to encourage imports and more severe controls in the protection of intellectual property.

 

Ahead in the day, the consumer price index for March is coming at 12:30 GMT, while the Federal Budget Balance will be out at 18:00 GMT.

Fortfs.com

Fort Financial Services - a licensed international Forex broker. A wide range of trading opportunities: more than 500 tradable contracts, Fort, Flex, Pro and Newbie accounts, direct access to world exchanges, diverse trading platforms: MetaTrader4, CQG Trader, Ninja Trader, Binary Options, partnership programs, free analytics and much more.