empty
 
 

2018.07.0208:10:00UTC+00Gold's Summertime Slump

Gold prices continued to fall Monday, touching 7-month lows ahead of U.S. manufacturing data.

The Federal Reserve is expected to raise interest rates and the dollar has strengthened amid risk aversion, driving most commodity prices lower. Stocks were set for another downbeat session amid U.S. trade squabbles.

Sept gold was down $4 at $1250/oz, having dropped 5.5% in the second quarter.

As U.S. tariffs on $34 billion of Chinese products take effect on July 6, China is expected to retaliate with duties of its own on American goods.

Meanwhile, Canada's retaliatory tariffs on American goods officially kicked in Sunday in a tit-for-tat response to the Trump administration's duties on Canadian steel and aluminum.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback