Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Gold Rises on Slipping Dollar

CommoditiesNov 28, 2018 11:06PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Gold prices rose on Thursday morning in Asia – Gold prices rose on Thursday morning in Asia as the U.S. dollar weakened on investors’ expectations of a slowdown in interest rate hikes.

The chairman of the U.S. Federal Reserve, Jerome Powell, said Wednesday that rates are “just below” the neutral level now.

Gold Futures for February delivery climbed 0.2% to $1,229.8 per troy ounce by 11:30PM ET (03:30 GMT), regaining some ground after closing at a two-week low on Wednesday.

Silver Futures for March delivery also rose 0.07% to $14.425, while platinum futures for January delivery edged up 0.27% to $829.4.

“Interest rates are still low by historical standards, and they remain just below the broad range of estimates of the level that would be neutral for the economy – that is, neither speeding up nor slowing down growth,” said Powell on Wednesday.

Powell’s comments helped drive the US dollar down. The U.S. dollar index, which tracks the greenback against a basket of six major currencies, fell 0.01% to 96.68.

“The USD will be knocked off its upward trajectory due to a flat yield curve, low rates relative to other G10 countries on a hedged basis, and as the Fed is likely to be less aggressive at a time when other central banks begin to really normalize their policies,” Bart Melek, head of commodity strategy at TD Securities, told Bloomberg.

“The path of the USD is important, as it has been the key factor weighing on the yellow metal this year.”

The minutes from the Fed’s Nov. 7-8 meeting are due to be released on Thursday and are expected to offer clues about the central bank’s policy direction next year.

Investors are also looking forward to the G20 summit Friday and Saturday in Argentina, in which U.S. President Donald Trump and his counterpart Xi Jinping are set to discuss trade.

Gold Rises on Slipping Dollar

Related Articles

Oil rises as OPEC+ poised to act if demand weakens
Oil rises as OPEC+ poised to act if demand weakens By Reuters - Dec 03, 2021 8

By Shadia Nasralla LONDON (Reuters) -Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy at short notice if oil demand...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email