Gold prices erased earlier gains to fall by as much as 1.3% on Monday, pressured by an advancing dollar as fears of a new coronavirus strain gripped markets and forced tougher restrictions. Spot gold fell 0.3% to $1,874.91 per ounce by 1115 GMT, having earlier hit its highest since Nov. 9 at $1,906.46. U.S. gold
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European markets open the week in heavy selloff on worries over a new strain of coronavirus discovered in the UK, which was seen as “out of control” by the Health minister. At the time of writing, DOW future is also down around -500 pts. Dollar is staging a broad based rebound on risk aversion today,
This adds to the growing list of countries placing the UK on the incoming travel ban list amid the new strain of coronavirus found there In Europe itself, Germany, France, Italy, Netherlands, Belgium, Austria, and Bulgaria among others have already announced restrictions on UK travel and it appears now that things are turning more international
NEW DELHI: Gold and silver futures prices in the domestic market climbed on Monday as agreement on the US stimulus package lifted the appetite for bullion. US congressional leaders have reached agreement on a $900 billion package to provide the first new aid in months to the coronavirus-hit economy, the Senate’s top Republican and Democrat
BOE left the Bank rate unchanged at 0.1% and the asset purchase program at 875B pound. The central bank remained cautious about the “unusually uncertain” economic outlook and pledged to take “whatever additional action is necessary” if the outlook for inflation weakens. Despite forecasts that GDP growth in December would come in weaker than November’s
More from the Wall Street Journal reporting on apparent progress on the COVID-19 stimulus package in Congress. This from earlier for background: Senate Minority Leader Schumer told media he thought both houses of Congress, the House and Senate, would be able to vote on the relief bill on Sunday. “It looks like we’ll be able
By Jack Farchy and Nishant Kumar For the best part of a decade, commodities have been deeply out of fashion. Now, as investors scour the market for the great reflation play, they’re hot again. Investing luminaries from Point72 to Pimco are calling for commodity prices to move higher. Goldman Sachs Group Inc., the bellwether of
Dollar’s broad based down trend resumption was a major theme last week. Though, Canadian Dollar was the worst performing one, as it digested recent oil price supported rally. Overall risk appetite, with NASDAQ extending record run, kept Yen and Swiss Franc soft too. As Brexit trade negotiations went into an extra mile, Sterling reversed some
Wall Street Journal report on apparent breaking of the impasse on Fed powers. Senate Democrats and Republicans have reached an agreement over constraints to the Federal Reserve’s emergency lending powers, clearing a last remaining hurdle for a $900 billion pandemic aid package. The Journal says that thus a vote on the stimulus package is expected
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
When you start trading from a retail perspective it is a bit like entering a profession as an amateur. So, for example, imagine starting life out as a practising lawyer, but before taking a law degree. Or how about starting as doctor, but before you attended medical school. Now, if you follow that analogy, starting
Forex news for North American trading on December 18, 2020 The day (and week for that matter) started with hopes for deals. One was for a Brexit deal out of the EU/UK. The second was a deal out of US lawmakers for a Covid stimulus deal. Both did not happen with negotiations continuing into the weekend.
Guar gum prices on Friday fell Rs 151 to Rs 6,144 per five quintal in futures market as traders offloaded their holdings in line with weak trend at spot market. On the National Commodity and Derivatives Exchange, guar gum for December delivery fell by Rs 151, or 2.4 per cent, to Rs 6,144 per five
Trading in the financial markets are rather subdued today, pretty much in pre-holiday mood. Dollar is still in recovery mode but upside momentum has been very weak. The greenback is set to end as the worst performing one, followed by Canadian and then Swiss Franc. On the other hand, Sterling is also paring some gains,
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
Gold prices rose marginally by Rs 21 to Rs 49,644 per 10 gram in the national capital on Friday, reflecting overnight gains in the international market, according to HDFC Securities. The precious metal had closed at Rs 49,623 per 10 gram in the previous trade. Silver prices, on the other hand, declined Rs 259 to