country flagالعربية
0
0

Gold prices are rising but heading for a weekly close on the red

2019-11-08 09:52 am | Resource: News | No Views : 41

 Gold prices are rising but heading for a weekly close on the red

Gold prices rose during Friday's trading from the lowest level in three months and yet it is heading to record weekly losses, in light of trade optimism and gains of global stock markets. China and the United States have made progress in the trade talks, and there are possibilities for a gradual reduction of additional import tariffs as the partial trade agreement approaches.

US Stocks Slightly Lower in Futures Trading

Wall Street stocks fell slightly on Friday as traders watched trade developments. With little economic calendar and corporate profits, the US-China trade deal remained in focus.

The deal may be signed in early December, according to reports. China claimed earlier that it had agreed with Washington to abolish existing tariffs, while White House trade adviser Peter Navarro said there was no such agreement. Meanwhile, press reports said there was opposition from within the White House and advisers to the proposal for a gradual and simultaneous abolition of China-US import tariffs, which China described as essential for signing the partial trade agreement.
  • The Dow was steady at 4:20 am EST.
  • The S&P 500 and the Nasdaq 100 fell 0.11% and 0.20% respectively.
 
The dollar index, which tracks the performance of the greenback versus a basket of six major currencies, was steady at 98.138 points as the euro rose only 0.015 against the dollar at the same time, buying 1.10461. The Chinese currency also fell against the dollar by about 0.2% to 6.9902 yuan, by 12:00 pm Mecca time.

Gold Trading
 
  • Gold futures for December delivery rose by 0.3% or equivalent to $ 4.70 at $ 1471.1 an ounce by 09:41 am Mecca time, after recording the level of $ 1466.40 an ounce
  • The spot price of yellow metal rose 0.16%, or $ 2.38, to $ 1469.89 an ounce, but is still down this week by 3%, the largest pace since May 2017.


Other analysis

Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.