- Analytics
- News and Tools
- Market News
- Gold slid after yesterday's gains
Gold slid after yesterday's gains
Gold is currently at $1,100.80 (-0.30%). On Monday the precious metal advanced significantly as comments from Federal Reserve officials questioned the likeliness of a rate hike in September. Federal Reserve Vice Chairman Stanley Fischer said on Monday that the labor market improved and got close to full employment. At the same time he noted that inflation remained weak. Both employment and inflation are closely watched by policymakers and progress in these spheres will determine the data-dependant rate increase.
This morning bullion slid as the People's Bank of China decided to devalue the yuan. Top consumer China accounts for nearly a third of global demand for the precious metal. A weaker yuan will make gold more expensive for Chinese importers.
© 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
