Gold Prices Decline as U.S. Dollar Strengthens - Jordan News
Gold prices fell on Tuesday as the U.S. dollar recovered some of its recent losses, while concerns over the U.S. fiscal outlook kept investors cautious about the trajectory of interest rates. اضافة اعلان As of 09:15 Moscow time, August gold futures (Comex) dropped by 1.25% to $3,351.90 per ounce. Meanwhile, spot gold prices declined by 0.61% to $3,323.61 per ounce, according to trading data. Kelvin Wong, Chief Market Analyst for the Asia-Pacific region at OANDA, said: 'At this stage, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst.' He added: 'However, market participants remain concerned about the widening U.S. budget deficit, which continues to support gold prices while simultaneously weakening the dollar.'
In the currency market, the U.S. dollar index—which measures the greenback against a basket of major currencies—rose by 0.07% to 99 points. (Bloomberg)
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Gold Prices Decline as U.S. Dollar Strengthens - Jordan News
Gold prices fell on Tuesday as the U.S. dollar recovered some of its recent losses, while concerns over the U.S. fiscal outlook kept investors cautious about the trajectory of interest rates. اضافة اعلان As of 09:15 Moscow time, August gold futures (Comex) dropped by 1.25% to $3,351.90 per ounce. Meanwhile, spot gold prices declined by 0.61% to $3,323.61 per ounce, according to trading data. Kelvin Wong, Chief Market Analyst for the Asia-Pacific region at OANDA, said: 'At this stage, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst.' He added: 'However, market participants remain concerned about the widening U.S. budget deficit, which continues to support gold prices while simultaneously weakening the dollar.' In the currency market, the U.S. dollar index—which measures the greenback against a basket of major currencies—rose by 0.07% to 99 points. (Bloomberg)
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Gold hits two-week high as investors cautious on US debt concerns
Ammon News - Gold prices rose to a two-week peak on Thursday as investors leaned toward the safe-haven asset amid mounting concerns over the U.S. government's growing debt and soft demand for 20-year Treasury bonds, highlighting low appetite for U.S. assets. Spot gold was up 0.7% at $3,336.43 an ounce, as of 0446 GMT, after hitting its highest level since May 9. U.S. gold futures rose 0.7% to $3,337.60. The dollar is hovering near a two-week low hit in the previous session, making greenback-priced gold cheaper for holders of overseas currency. "Gold's bullish reversal is supported by a weaker U.S. dollar and lingering stagflation risks in the U.S. economy," said Kelvin Wong, senior market analyst, Asia Pacific at OANDA. Spot silver rose nearly 1% to $33.66 an ounce, platinum fell 0.4% to $1,072.43 and palladium lost 1.4% to $1,023.50. Reuters
