Futures Trading News
Gold prices experience their largest one-day loss of the year on Thursday as the dollar gained. Gold fely pressure as the market received relatively hawkish comments from Federal Reserve chief Janet Yellen. The U.S. dollar began to climb on Wednesday after Yellen said she expects Fed-controlled interest rates to rise “a few times a year” through 2019. The Fed’s stance contrasts with central banks elsewhere, including the ECB.
Oil futures rose Thursday after a report from the International Energy Agency confirmed a decline in output by OPEC members, but prices ended with only a modest gain following an unexpected rise in U.S. crude supplies.