Gold Lost $1.250/oz as US Dollar Index Rallies to 2018 Highs of 95.50

Thursday, 28/06/2018 | 10:01 GMT

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Gold lost the $1.250/oz strong support level, with intra-day low of $1.248/oz amid the rising fear and uncertainty for possible trade war in the global markets.

The potential trade war has threatened the global markets, sending the investors to US dollar and US Treasury Bills as “safe haven” assets instead of the traditional protection assets such as Gold and other precious metals which are making lower lows during the last 1 month.

Furthermore, the Gold price has been pressuring lower as the market participants expect another 25bp rate-hike in coming September from Federal Reserve and possible another one hike in December 2018. The Fed’s hawkish hiking program has weakened the Precious metals against US dollar as they don’t bear any yield while the US dollar offer interest rate yields.

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Source: https://www.exclusivecapital.com/gold-lost-1-250-oz-as-us-dollar-index-rallies-to-2018-highs-of-95-50/

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