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Gold Falls and Expectations to Raise US Interest Rates

2018-09-20 10:52 am | Resource: News | No Views : 110



Gold Falls and Expectations to Raise US Interest Rates Gold prices fell on Thursday despite a weaker dollar amid volatile trade concerns as investors awaited economic data later in the session and look to the Federal Policy Session next week. Where

The precious metal fell about 11.6% from a high in April due to escalating trade disputes between the United States and China and rising US interest rates as a catalyst for gold selling. Which affected the trading of bonds and shares

Trading in German and British bonds varied

The prices of government securities issued by the United Kingdom and Germany slightly changed on Thursday and are looking for direction. UK retail sales came last month with slower growth, but the rates actually surprised the upside, in part due to the expected seasonal impact. Investors are expecting the European Union's consumer confidence data for September and the speech by German Central Bank President Jens Weidemann.

The yield on two-year bonds from the eurozone's largest economy was 0.2 basis points higher at 10:56 CET, down 0.521%. The 10-year pound gained 0.487%, or 0.4 points lower for the day, while the 30-year index was down 0.4 points at 1.138%. Similar futures prices fell 0.01% and 0.01% lower and remained unchanged, respectively.

The British two-year yield moved one point higher to 0.858%. The yield on 10-year US Treasury bonds fell by 0.2 points to 1.462 percent, and the 30-year benchmark was 0.8 basis points in the red zone at 1.952 percent. The proceeds go up when the bonds lose their value and vice versa.

Dollar trading and interest rate expectations
 
The dollar was also under pressure after a report said the US and Canada are unlikely to reach agreement on NAFTA this week. As investors were looking to take the next Federal Reserve decision on Sept. 26. Markets now expect the Federal Reserve to raise interest rates by a quarter point, while futures prices in the fund will increase at the end of the year by more than 80% probability.

Precious metals trading
  • Gold futures for December delivery were down $ 0.70 or 0.06% at $ 1,207.60 an ounce in the Newش York Mercantile Exchange.
  •  Silver futures fell 0.04% to $ 14.275 an ounce by 9:56 GMT
  • Palladium futures rose 0.22% to $ 1,033.10 an ounce
  • While Platinum Metal was up 0.10% at $ 822.70.
  • In basic metals, copper fell 0.49% to $ 2.716 per pound.
 


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OIL Technical analysis 13 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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