OctaFX | OctaFX Forex Broker
      Konto eröffnen

      Gold gains 1% on dovish Fed

      FXStreet (Mumbai) - Gold prices advanced more than 1% as the treasury yields and the US dollar dropped after the FOMC statement was highly dovish and Yellen stayed non-committal on the timing of the liftoff.

      Hovers at November 2014 low

      The metal currently trades around the November 2014 low of USD 1132.90/Oz levels. The safe haven metal, has been a major victim of the rate hike talks, that began in Q4 2014. However, the dovish Fed today pushed rate hike bets lower, weakened USD and pushed up gold prices.

      Meanwhile, oil prices fell back into the red , while stock prices in the US gave up part of their gains, indicating markets could be taking the dovish Fed as a negative sign. A risk aversion could add to the yellow metal’s strength, especially since the talk of a rate hike could take a backseat in the near-term.

      Gold Technical Levels

      At USD 1131/Oz levels, the immediate resistance is seen at 1132.90 (Nov 2014 high), above which the prices could rise to 1169 (Aug 24 high). On the other side, support is seen at 1113.55 (50-DMA) and 1100 levels.

      US stocks rise after Fed holds fire

      US stocks jumped to session highs after the Fed announced its decision to keep rates unchanged in light of heightened uncertainties abroad and softer path of inflation.
      Mehr darüber lesen Previous

      GBP/USD making a cautious base on the 1.56 handle

      GBP/USD made fresh highs on the 1.56 handle as markets continue to exit the greenback on the back of the Fed's interest decision.
      Mehr darüber lesen Next
      Start livechat