Gold prices diverge ahead of the New Year holidays
2018-12-28 01:03 pm | Resource: News | No Views : 63
Gold prices are moving in a tight range on Friday as traders look for a direction after stocks have seen some volatile sessions this week.
Dollar weakness, partial closure of the US government and concerns about global economic growth amid the ongoing trade war between the United States and China supports the yellow metal.
Wall Street futures gain slightly
US markets continued to rise in pre-sale trading on Friday amid a turbulent economic and political climate. Previous concerns over the possibility of the US government's extended closure have outperformed early in the morning by European markets to close the last week of 2018.
US Futures Contracts
- The Dow Jones Industrial Average rose 0.74% in the primary market
- While the Nasdaq 100 rose 0.73%.
- S & P 500 futures were up 0.75% at 12:22 CET.
Dollar and currencies
- The dollar index was down 0.21% to hit 95.80.
- The euro rose 0.26% against the dollar to trade at 1.14694 at 12:22 CET.
Precious metals trading
(CURDE OIL - WTI ) 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 the 52.50 - 53.37 levels, but is still consolidating at a high of 50.33. In view of the technical indicators Both the RSI and Stochastic are indicating to decline of the indicators. Therefore, we expect that the oil…
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