Gold Rising With Dollar Decline
2018-09-14 11:31 am | Resource: News | No Views : 53
The precious metal continued to rise as the dollar continued to weaken. The dollar is nearing a few-week low after the results of the PPI, consumer price index and consumer price index, while the attempt to take refuge from ongoing trade talks has also faded over the past two days. This has helped gold achieve the highest four consecutive gains
Inflationary pressures in the United States are easing, raising concern that the Fed may ease its stance on monetary policy, data showed on Thursday. High rates are negative for gold, as the precious metal, which does not pay interest, struggles to compete with yielding assets when prices rise.
After reports showed that the administration in the United States wanted to hold a new round of trade negotiations with China, which was met with Chinese caution, but which triggered optimism in the markets, but in a sudden reaction, Trump then emerged with a tweet on the Twitter social networking site. To an agreement with us and not us who need it. Trump added that the United States will manufacture its products in the United States, referring to the bringing of Apple factories from China to America, and concluded his comment that any talks do not mean agreement that led to market volatility
Gold is usually in the greenback as it is denominated in US currency and is sensitive to dollar movements. Gold becomes more expensive for other currency holders when the dollar rises and falls when it falls.
Gold trading was another precious metal
- Gold futures for December delivery rose 0.36% to $ 1,212.50 an ounce (08:32 GMT).
- The dollar index, which measures the strength of the dollar versus a basket of six major currencies, fell 0.10% to hit 94.44.
- Silver futures rose 0.15% to $ 14.265 an ounce.
- Among other precious metals, the platinum futures contract rose 0.76% to $ 809.40.
- While palladium futures rose 0.38% to $ 972.40 an ounce.
- Copper futures are 1.52% at $ 2.669 per pound.
Time frame Used - four hours Oil is moving in a sideway direction in the near term Oil is still facing resistance and selling pressure around level of 71.44 forming a negative candlestick pattern In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators Accordingly, we expect oil to drop to 70.42 - 69.53 The alternative scenario is that the oil…
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