Gold fell after China is tariff peaks
2018-09-18 01:34 pm | Resource: News | No Views : 50
Gold prices fell on Tuesday despite the US announcement that it would impose 10% of China's $ 200 billion customs duties on Chinese goods.
US President Donald Trump said in a statement on Monday that the United States is imposing 10 percent customs duties on Chinese goods worth 200 billion dollars and that the tariff will rise to 25 percent in January 2019. Trump added that "if China takes retaliatory measures against our farmers or industries Other, we will immediately follow the third phase, which is tariffs on approximately $ 267 billion of additional imports. "
Gold prices have been under pressure in recent months despite growing trade tensions between the United States and its trading partners as investors resorted to the dollar for safety. The USD received some support earlier in the session and rallied to 94.607 after the trade news.
All of these news put downward pressure on the commodity. The imminent Fed rate hike was seen as one of the key factors affecting non-yielding yellow metal.
In addition, a modest rebound in the US dollar has further reduced the demand for the dollar-denominated commodity, with the positive opening on the European stock exchanges as well, which has done little to revive demand for safe haven.
Currently, the price is trading below the psychological barrier of $ 1200, and the commodity is still confined to a broader trading range over the past three weeks and seems to be waiting for a new catalyst before the next stage of the trend.
US interest rates have also been shown to be counterproductive to precious metals.
Gold futures for December delivery fell 0.17% to $ 1,203.70 an ounce at 11:00 GMT on the Comex section of the New York Mercantile Exchange.
Time frame Used - four hours Oil is moving in a bearish direction in the near term The bears managed to press the oil to retreat below level of 70.46, forming a positive candlestick pattern but it still facing resistance around level of 72.71 In view of the technical indicators Both the RSI and the Stochastic are indicating signs of recovery Accordingly, we expect that the oil will break…
- Gold Technical analysis 16 October 2018 11:41 pm2018-10-15
- OIL Technical analysis 15 October 2018 10:03 pm2018-10-14
- Gold Technical analysis 15 October 2018 10:01 pm2018-10-14
- OIL Technical analysis 12 October 2018 11:46 pm2018-10-11
- Gold Technical analysis 12 October 2018 11:44 pm2018-10-11
- OIL Technical analysis 11 October 2018 05:32 am2018-10-11
- Gold Technical analysis 11 October 2018 05:25 am2018-10-11
- OIL Technical analysis 10 October 2018 05:25 am2018-10-10
- Gold Technical analysis 10 October 2018 05:23 am2018-10-10
Best trading brokers
- The rise of gasoline contracts supports oil to reach its levels in two months 2017-07-28
- Oil prices maintain their highest level in 8 weeks 2017-07-28
- Brief Market News 2017-07-12
- Oil falls influenced by the International Energy Agency report 2017-08-14
- "China National Petroleum": China's energy demand will peak in 2040 2017-08-16
- Dogecoin .. Electronic currency arose as a result of irony 03:54 pm 2018-01-26
- Currency and commodity analysis for 2018 05:14 pm 2018-01-01
- Bitcoin forces Santa Claus to distribute the worst gifts to its investors on Christmas 10:04 am 2017-12-25
- Forex 09:26 am 2017-12-25
- OmiseGo .. Time for electronic financial exchanges 02:07 pm 2017-11-15