OctaFX | OctaFX Forex Broker
Open trading account
Back

Gold fails to sustain gains

FXStreet (Córdoba) - Gold has surrendered intraday gains and is trading flat on the day after a bout of risk aversion sent the metal briefly above $1,220 an ounce.

The precious metal rose to a high of $1,222.27 during the Asian session as weak global manufacturing data weighed on investors’ sentiment and prompted gold demand. However, gold came under pressure soon after as the dollar recovers across the board. At time of writing, metal is trading around $1,213.50 an ounce, virtually unchanged on the day, and not far from its 2014 low of $1,204.45 scored Tuesday.

Gold prices fell nearly 9% in the third quarter amid broad USD strength as the Fed tapers its bond-buying program and moves closer to hike interest rates.

GBP/USD remains under pressure - FXStreet

FXStreet Chief Analyst Valeria Bednarik points out that GBP/USD dropped to a weekly low of 1.6155 on Thursday and that its strong static support area close to 1.6160 is being pressured.
Read more Previous

ECB meeting: door open to disappointment? – Rabobank

Jane Foley, Senior Currency Strategist at Rabobank, sees the likeliness of EUR-bears to get disappointed in today’s ECB meeting...
Read more Next
Start livechat