Gold Picks Up From Weekly Decline
March 21, 2014 12:20 pmVideo
Latest News
- EUR/USD. May 10th. Traders continue to torment the dollar May 10, 2024
- GBP/USD. May 10th. The British economy was pleasantly surprised May 10, 2024
- USD/JPY: Simple trading tips for novice traders on May 10th (US session) May 10, 2024
- GBP/USD: Simple trading tips for novice traders on May 10th (US session) May 10, 2024
- EUR/USD: Simple trading tips for novice traders for May 10th (US session) May 10, 2024
- GBP/USD: trading plan for the US session on May 10th (analysis of morning deals). The pound hit 1.2535 May 10, 2024
- EUR/USD: trading plan for the US session on May 10th (analysis of morning deals). The euro shows no signs of life May 10, 2024
- Trading Signals for BITCOIN (BTC/USD) for May 10-15, 2024: buy above $62,500 (21 SMA – 4/8 Murray) May 10, 2024
- Video market update for May 10, 2024 May 10, 2024
- Technical Analysis – GBPJPY continues to ascend May 10, 2024
- Technical Analysis – EURUSD retests 200-day SMA near downtrend line May 10, 2024
- Bitcoin finds support from a weaker dollar – Crypto News May 10, 2024
- Weekly Forex Outlook: 10/05/2024 – US inflation numbers to shake Fed rate cut bets May 10, 2024
- Forex forecast 05/10/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 10, 2024
- Week Ahead – US inflation numbers to shake Fed rate cut bets May 10, 2024
- GBP/USD: trading tips for beginners for European session on May 10 May 10, 2024
- EUR/USD: trading tips for beginners for European session on May 10 May 10, 2024
- Market Comment – Dollar slides, gold shines after soft US labor market data May 10, 2024
- Technical Analysis – AUDUSD remains undecided near crucial technical region May 10, 2024
- Technical Analysis – USDCAD slips beneath 20-day SMA May 10, 2024
Gold rose slightly on Friday, picking up for the first time in five days, but still heading towards its biggest weekly drop in four months. The metal prices were dragged lower by the strengthened US dollar and the Federal Reserve’s suggestion to increase the interest rates in the first six months of 2015.
Gold futures edged 0.12% higher to $1,332.10 an ounce on Friday, hanging close to a three-week low, compared to the six-month high of $1,391.76 seen on Monday.
Holdings in the world’s largest bullion-backed exchange-traded fund, SPDR Gold Trust; came in at 812.78 tons on Thursday.
Gold – Federal Reserve Outlook
Minutes from the Federal Reserve’s (Fed) March meeting continues to weigh on the commodity market, as the Fed Chair Janet Yellen said that the benchmark interest rate is forecasted to climb within first six months of 2015.
According to the minutes from the March meeting, Fed policymakers forecasted the benchmark rate, would increase by at least 1% by the end of 2015 and by 2.25% by the end of 2016, as the US central bank announced a further reduction to its monthly bond purchases by another $10 billion to $55 billion.
St Louis President James Bullard, Dallas Fed President Richard Fisher, Minneapolis Fed President Narayana Kocherlakota and Fed Governor Jeremy Stein are expected to give speeches later in the day.
Ukraine
Meanwhile, the ongoing tensions between Ukraine and Russia over the Crimean region continues to weigh on the commodity market, as the US President Barack Obama imposed personal sanctions on officials and business leaders that have ties with the Russian President Vladimir Putin.
The lower house of the Russian Federal Assembly approved the treaty to annex Crimea, while the upper houses are expected to vote on Friday.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today
The post Gold Picks Up From Weekly Decline appeared first on | HY Markets Official blog.
Related Posts: