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Gold prices fluctuated as the dollar rallied after Wall Street

2018-12-05 08:50 am | Resource: | No Views : 51



 
Gold prices fell slightly as early trading on Wednesday as the dollar rallied after Wall Street fell as the dollar rose to its highest level in early November by the Federal Reserve as the United States. The economy remained strong.

  US stocks rose as optimism over Trump's and China's G20 meeting ebbed after a 90-day deal was reached after US President Donald Trump said he wanted a "real deal" and that his administration would "make a big difference" if the negotiations did not succeed. . However, reports from Chinese officials are "confused and irritated" in Washington's position.

China is "confident" that it can implement the US Trade Agreement

On the other hand, the Ministry of Commerce said on Wednesday that it was "confident" of the possibility of implementing its trade agreement with the United States. The ministry said the negotiations were successful and committed to implementing the negotiated solutions to the current issues as soon as possible. According to the statement, the two sides will "proactively push" trade talks within 90 days.

The dollar's dollar has been under pressure after Federal Reserve Chairman Jerome Powell's remarks last week that it was a sign that the central bank could slow its interest rate program. Where the Federal Reserve is widely expected to raise interest rates in December. 18-19 meeting pointed out that rates can be raised three times in 2019, but the pricing markets are currently raising in rate only one next year.

Gold prices remained at a five-month high as the US dollar suffered in recent weeks.
  •  The dollar index, which tracks the dollar against other currencies, rose 0.2% to 97.072. The dollar gained a safe haven after the United States. Stocks fell more than 3% overnight.
  • Gold futures for February delivery on the New York Mercantile Exchange fell 0.5% to $ 1.240.20 an ounce at 1:24 pm CET.


Other analysis

OIL Technical analysis 14 December 2018

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 levels of 52.66 - 54.54. In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators. Therefore, we expect that the oil will test the level of 50.00 dollar, which by breaking it down will target the…

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