direct: Gold prices fell for the first time in 5 consecutive sessions by more than $ 27 when settling Wednesday’s session, with Strong rise in US stocks After historical gains, the metal recorded it over the past two days.
The prices of the metal witnessed a volatile session, as it turned lower during trading, and lost more than $ 40 before reducing its losses relatively when settling.
The gold losses come as investors seek cash, which spoiled the positive impact To the US economic stimulus plan Of losses resulting from the spread of corona.
The White House and Senate leaders reached agreement early today on A stimulus bill worth two trillion dollars To combat the economic impact caused by the outbreak of corona, as the majority leader said in Senate Mitch McConnell: The American package has been agreed and will be put to the vote later in the day.
Corona continues to claim lives globally, with the total number now standing at more than 20 cases globally, while the number of infected people has increased to 441,000, according to the map of Johns Hopkins University.
The gold price continues to trade during the spot trading below the futures prices, indicating market concerns that air travel restrictions and the closure of metal refineries will hamper the sending of alloy shipments to the United States to meet contract requirements.
Over the course of Monday and Tuesday, he achieved gold A strong rise of $ 176 Almost overall, the biggest daily gain in dollar terms in both days.
Upon settlement, the price of gold futures for June delivery fell by 1.7 percent, or $ 27.40, to drop to $ 1633.40 an ounce, after recording the level of $ 1698 in the upward direction and $ 1609.01 an ounce in the downside.
By 6:00 pm GMT, the spot price of yellow metal fell by 1.2 percent to $ 1612.23 an ounce, losing about $ 20.09 from its value.
At the same time, the main index of the dollar, which follows the performance of the American paper, declined against 6 major currencies, by 0.8 percent, to 101.206.