Gold rises on dollar’s decline as attention returns to the Fed


Arab and international

Economy News _ Baghdad

Gold rose on Monday with the decline of the dollar, to recover some of its losses after a sharp decline in the previous week, while attention is focused on the proceedings of the US Federal Reserve meeting, which will be issued this week.

By 0636 GMT, the spot price of gold was up 0.3 percent to $ 1949.09 an ounce.

Gold was down 4.5 percent last week, its biggest decline since March, as investors reassessed positions after dropping from a peak of $ 2,072.50 recorded on August 7. US gold futures rose 0.5 percent to 1958.90 dollars an ounce.

“It does not seem ready to resume a real downturn because traders are awaiting the minutes of the FOMC meeting and the fate of the US fiscal stimulus negotiations,” said Ilya Spivak, exchange market strategist at DailyFX.

Silver rose 1.5 percent to $ 26.81 an ounce, platinum rose 2.1 percent to $ 955.54 an ounce, and palladium advanced 2.6 percent to $ 2,164.07 an ounce.

https://economy-news.net/content.php?id=21462

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s