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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Gold shows worst indicators in two years

November, 08 2019
watermark Economic news

Gold prices continue to show the worst performance over the past two years, responding to positive news on the settlement of trade differences between the US and China. Today, gold futures for December delivery fell to $1,457.10 per troy ounce, plummeting from the $1,493 area. Such lows were the biggest loss since 2017.


The pressure on the precious metal was exerted by news about the mutual abolition of US and Chinese duties. The elimination of duties is one of the main conditions for concluding the first stage of a trade deal. Success in negotiations supports the full range of risky assets, and gold, as a rule, moves in the opposite direction from risk.


Additional pressure on gold was exerted by the news that the People's Bank of China, being a constant accumulator of gold bullion, was not able to replenish its reserves again in October.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.