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Gold fell for the first session this week

2019-04-11 10:22 am | Resource: NEWS | No Views : 128

 Gold fell for the first session this week

Gold fell on Thursday after four sessions of the rise despite expectations of members of the Fed not to raise rates this year,

On the other hand, the precious metal is facing a major pressure from the easing of trade and geopolitical concerns that will adversely affect the major economies. The decline of the dollar, which is usually a decline in the US currency to ease the pressure on commodity prices, while the rise means that these commodities become more expensive for other currency holders.

The minutes of the Federal Reserve meeting on Wednesday evening showed that the tip of the board is that interest rates will not rise this year, mainly due to concerns about economic growth in the United States and the world at large.

 Wall Street futures fell ahead of Fed comments

Wall Street stocks were mostly low in pre-market trading on Thursday after the EU gave the UK an extension to leave the bloc until Oct. 31. Investors are also expected to release economic data for the US later in the day as well as speeches by Fed officials scheduled for after the opening bell.

Commenting on the decision, which Britain avoided by withdrawing without an agreement defining its relations with EU countries in the future, European Council President Donald Tusk said that the new deadline would give the United Kingdom additional time to reach the best possible solution to the departure process.

However, the precious metal has come under pressure after the success of European leaders in reaching an agreement with the United Kingdom to extend the BRICEST deadline for six months to continue talks on the future of the relationship after the withdrawal from the European Union.
  • The Dow Jones industrial average was down 0.12% at 12:28 CET.
  • While the Nasdaq 100 fell 0.09% at the same time.
  • The Standard & Poor's 500 was flat at 12:29 CET.

This coincided with the dollar index, which measures its performance against a basket of major currencies, stabilized at 96.93 points. The euro was steady against the US dollar to sell at 1.12766 at 12:30 CET.

Precious metal trading
  • In terms of trading, precious metal futures fell 0.20% to $ 1311.10 an ounce.
  • Spot delivery fell 0.10% to $ 1306.93 an ounce, at 09:57 CET.


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