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Gold is Surging, Highest Since January

Gold has been benefiting from the risk-on mood in markets and has surged above the $1,905 level at 10.00 GMT +3.  

The latest trigger for gold’s upswing came from the downbeat US data. New Home Sales disappointed with only 863,000 annualized in April while the Conference Board’s Consumer Confidence Consumer Sentiment measure for May missed estimates with 117.2 points.  Consumers in Tuesday’s report said they were less likely to purchase cars, homes and major appliances in the next six months. 

Federal Reserve officials have reiterated their message that the US economy has a long way to go and that inflation is transitory. This means the Fed is set to continue injecting markets with $120 billion of newly created cash every month and hold back on raising interest rates. 

In other news, Japanese government bonds were unchanged on Wednesday, with investors turning cautious ahead of a 40-year bond auction while drawing support from firmness in U.S. peers on easing concerns about inflation. 

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Errante is the trading name used by Notely Trading Ltd, an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number [383/20]. Errante is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

To find out more about Errante, visit https://errante.eu.

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Notely Trading Limited is an Investment Firm authorized and regulated by the Cyprus Securities and Exchange Commission (CySec) under license number 383/20, registration number HE394425 and with registered office at 30 Karpenisiou, 1077 Nicosia, Cyprus. The Company is governed by the Markets of Financial Instruments Directive (MiFID II) of the European Union.

The website (www.errante.eu) is operated by Notely Trading Ltd.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read our Risk Disclosure.

Errante brand is authorised and regulated in other jurisdictions:

Errante Securities (Seychelles) Ltd (https://errante.com/) is regulated by the Seychelles Financial Services Authority (FSA) under license number SD038.

Errante is a Trademark owned by an entity of the Errante Group. All other trademarks that appear on this website are the property of their respective owners.

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© 2024 Notely Trading Ltd. All rights reserved.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 33.33% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.Read our Risk Disclosure.

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