Capital Street BancClear Corporation

Option Banque is a brand owned and operated by Capital Street BancClear Corporation Limited with registered address Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, SVG.

  • Suite 305, Griffith Corporate Centre Beachmont, KingsTown Saint Vincent and The Grenadines

  • +1-949-335-4314

  • Monday-Friday: 6.00 AM
    4.00 PM GMT

Gold Price Slips on Strong Dollar – Outlook Positive -

Feb, 23rd 10:41

Gold prices slipped on Friday as the dollar rebounded from earlier losses.

Gold futures for April delivery on the Comex division of the New York Mercantile Exchange fell 3.80, or 0.29%, to $1,328.80 a troy ounce by 12:50 pm ET. The precious metal was on track to finish the week with its biggest weekly fall since early December in 2017.

Meanwhile, U.S. Treasury 10-year note yields rose to 2.957% on Wednesday, its four-year high, before dropping to 2.904% on Thursday and rebounding to 2.928% on Friday.

Gold is sensitive to moves in both bond yields and the U.S. dollar – A weaker dollar makes gold cheaper for holders of foreign currency raising demand while a fall in U.S. bond yields, limits the opportunity cost of holding non-yielding assets such as bullion.

On the technical charts, Gold is trading sideways, just below the 9 day and the 20 day moving averages. The market is trading above the 50 day, 100 day, and the 200 day. The RSI is at 48.16 and the MACD is below the signal line.

Trade suggestion:

Buy digital Put options between 1327 and 1323, valid until 23:00 GMT February 23rd, 2018