- Analytics
- News and Tools
- Market News
- Gold trading little changed below USD1200 again
Gold trading little changed below USD1200 again
Gold prices slightly recovered today trading below the important level of USD1200 again as the broadly weaker U.S. dollar supported the precious metal but rallying stock markets put further pressure on gold. Last month it reached a four-year low at USD1,131.70 - at the current level gold is almost flat for the year as the precious metal declined from highs in march at USD1,387.70. Trading volumes are expected to be low this week which could lead to volatile and erratic markets. The precious metal is currently quoted at USD1,196.20, +0,20% a troy ounce.
On Wednesday the Fed has indicated that it may raise interest rates next year, replacing the intention to keep them close to zero level "extended period" of time for a promise to show "patience" before making a decision to raise the cost of borrowing.
Gold, which does not bring interest income, it is possible hardly compete with other assets yielding interest, when interest rates rise. In addition, higher interest rates are likely to have support for the US dollar, which also have a negative impact on the situation of dollar-denominated metal.
GOLD currently trading at USD1,196.20
GOLD currently trading at USD1,196.20
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
