Home/FX/Newsfeed

Gold eases after Fed rate hike

Share Print 0

Gold eased in Europe on Friday as the U.S. dollar surged to nine-month highs versus the euro, but erased much of its earlier decline as investors bought the precious metal to hedge against financial market risk.

Spot gold was bid at $1,107.45 (U.S.) an ounce at 1032 GMT, down from $1,111.40 late in New York on Thursday but well off an earlier low of $1,098.55.

The metal was sharply lower in Asia but met buying interest in early European trade amid fears over instability in the currency markets. The euro is suffering from dollar strength and concern over the fiscal health of smaller euro zone economies.

Globe and Mail

For more Commodity Economic Indicators visit FXEconostats

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

, , , , , , ,
Back to Top