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as markets broadly expected, but a lack of significant changes in the Fed's rate statement leaves investors unsure of an additional rate hike in December to close out the year. Opinions expressed at FXStreet are those of the individual authors and do not necessarily represent the opinion of FXStreet or its management. Zurich Gold Pool founded in 1968 by the largest banks in Switzerland after the collapse of the London Gold Pool. trader looks to the Equity indices if the risk has indeed been on and if it is about to turn as well.
Gold Forecast, News and Analysis - FXStreet Gold Forecast, News and Analysis - FXStreet
Moving on, gold traders will take monitor the US employment data, including the weekly Initial Jobless Claims. The XAU/USD pair tells the trader how many US Dollar (the quote currency) are needed to purchase one Gold Ounce (the base currency).The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Other important group of influent pairs includes: EUR/USD, GBP/USD, USD/JPY, AUD/USD, USD/CHF, NZD/USD and USD/CAD. The Federal Reserve’s (Fed) monetary policy meeting and October jobs data from the US could drive XAU/USD’s action next week, with geopolitics moving to the back burner. On the other hand, the weaker Chinese data might cap the gold’s upside as China is the world's largest gold producer and consumer.
It is known to be a “safe-haven” asset, it is expected to increase its value in times of volatility and economic uncertainty.FXStreet will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Meanwhile, global economic data continues to miss the mark, pushing back market hopes for increasing Crude Oil demand. Bonds: Bund (the German word for "bond", a debt security issued by Germany's federal government) and T-Note (Treasury Note, a marketable U. Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The COMEX merged with the New York Mercantile exchange (NYMEX) in 1994 and became the division responsible for metals trading.
The attention will shift to Friday's Nonfarm Payrolls (NFP), which is expected to add 180K jobs in October. When the ratio is rising, it means gold is outperforming silver, and when the line is falling, the first term is doing worse, i. Federal Reserve (Fed) Chairman Jerome Powell stated that the rise in long-end yields needs to be persistent and driven by higher term premiums to influence monetary policy while mentioning that the current monetary policy is already restrictive. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The weaker US Dollar (USD) after the Federal Open Market Committee (FOMC) policy meeting lends some support to the major pair.The rebound of precious metal is bolstered by a decline in the US Treasury bond yields following the the Federal Open Market Committee (FOMC) policy meeting. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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