Mon, August 15, 2022

Gold USD Pair in Red Territory | Wibest

The gold USD pair is trading in negative regions in today’s session. The precious metal’s safe-haven appeal hasn’t been working effectively on traders and investors in past sessions.

XAU/USD prices have declined 0.19% or 2.70 points on Wednesday’s session. Spot gold prices currently trade around $1,403.01 compared against its previous close of $1,405.90.

The greenback has been receiving support from better than expected data from the US retail sales report.

The positive report followed the upbeat data from June’s jobs report. Gold USD traders and investors are currently weighing and digesting the better than expected data on retail sales in the United States.

Retail sales in the US reportedly rose more than 0.7%, topping the expected 0.3% of analysts. The data placed the precious metal under pressure.

Debates and discussions of a possible rate cut by the United States Federal Reserve continue to give unclear direction for the gold market.

Some gold USD investors remain optimistic for the future of gold. A comeback for the precious metal isn’t impossible since the Fed is set to meet later in the month to talk about rate cuts.

However, some analysts doubt the yellow metal’s chances, after the positive data from the US retail sales report, could ease the chances of a rate cut.

The United States Department of Commerce said on Tuesday that retail sales in America have significantly grown, a positive sign for the US economy.

Other Metals

Wibest – Gold USD: Molten metal being poured from a crucible into a mold.

Aside from the Gold USD pair, other precious and base metals have also traded sideways in today’s session.

Silver futures saw a downward movement of 0.48% or 0.076 points. The lustrous metal opened in sessions at $15.585 and is currently selling around $15.602 against its last close of $15.678.

Platinum futures fell 0.88% or 7.45 points. The malleable metal opened at $843.85 in today’s session, but further declined and now exchanges at $839.15 compared to its previous close of $839.30.

Palladium futures received minimal damages; prices inched down 0.01% or 0.20 points. Palladium currently trades at $1,516.10, a small retraction from its last close of $1,516.10.

      • Interested in Platinum or Palladium Trading? Read WiBestBroker’s comprehensive review on ProfitiX.

Base metals such as aluminum and copper also contracted, while nickel and lead inched upward.

Aluminum futures lost 0.24% or 4.50 points, trading at $1,838.75. Copper futures fell 0.33% or 0.009 points, dealing around $2.691.

Nickel futures rose 1.88% or 257.50 points, selling at $14,205.00. Lead futures gained 0.44% or 8.75 points, presently trading at $1,988.50.

YOU MAY ALSO LIKE

Oil Declines Following Disappointing Chinese Data

Brent crude futures dropped $3.49, or 3.56%, to $94.66 a barrel by

BDOmarkets Review

Broker Review: BDOmarkets General Information & First Impressions BDOmarkets is a brokerage

New Medicine With Higher Prices In The U.S.

Reuters found that some pharmaceutical manufacturers are keeping the secret about the

COMMENTS

76 responses to “Gold USD Pair in Red Territory | Wibest”

  1. Vtpqgf says:

    good academic writing – pay for assignments academicwriters

  2. Gmhpaa says:

    help with term paper – http://wrtessay.com/ research paper editing

  3. Cqcutd says:

    buy custom research paper – http://essaywrw.com/ write papers online

  4. Fqbbstact says:

    advance america cash advance fresno ca easy payday loans delaware illegal payday loan collections

  5. Jbbnstact says:

    precio farmacia cialis 5 mg cialis manfaat reviews on cialis

  6. Jnfina says:

    help writing a paper – http://writexessays.com/ canadian drugs

Leave a Comment

Your email address will not be published.

BROKER NEWS

BROKER NEWS