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14.01.202112:24 Forex Analysis & Reviews: Gold rises amid Trump's impeachment

Exchange Rates 14.01.2021 analysis

On Wednesday, gold futures showed positive dynamics after the release of the US inflation report. In addition, Trump has been impeached. The vote to remove the 45th US president is being held for the second time. However, on January 20, Joe Biden will take the presidency.

Nevertheless, the market is in an alarming state ahead of Joe Biden's inauguration, as there are extremist calls for violence in the country.

Gold received support amid a rise in the US consumer price index by 0.4% in December compared to November. Overall, the CPI has been rising for seven consecutive months, but remains below the Fed's target of 2%. February gold futures are trading at $1,840.00 per ounce.

Exchange Rates 14.01.2021 analysis

At the moment, gold prices are more inclined to drop, as they are kept in a relatively narrow range. Some analysts believe that gold may fall below the $1,800 level. This will negatively affect prices in the short term.

March silver futures edged higher by 0.5% to $25,20 per ounce.

Exchange Rates 14.01.2021 analysis

March copper futures increased by 0.3% to hit $3.617 per pound.

April platinum futures jumped by 4% to settle at $1,110.70 per ounce. March palladium futures added 0.9% to close at $2,397.10 per ounce.

Kate Smirnova,
Expert Specializat
Grup InstaForex © 2007-2021
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