Updated .. gold loses $ 22 upon settlement with stock gains


direct: Gold prices fell by about $ 22 when settling transactions on Monday, to retreat from its highest level in about 8 years with sharp gains for shares.

The yellow metal fell as the index rose Dow Jones US stocks With more than 800 points during the dealings with hopes of Corona treatment.

For his part, The Fed Chairman was excluded The possibility of a repeat of the Great Depression scenario, despite the severe recession in the economy.

The precious metal in early trading benefited from the grim US data released at the end of last week, the extent of the damage caused by the “Covid 19” virus to the largest economy around the world, which boosted the value of gold at its highest level since October 2012.

Upon settlement, the price of gold metal futures for June delivery fell by 1.3 percent, or $ 21.90, to $ 1734.40 an ounce after hitting $ 1775.80 earlier in the session, its highest level since October 12, 2012.

By 5:50 pm GMT, the spot price of yellow metal fell by 0.7 percent, equivalent to $ 11 to $ 1731.99 an ounce.

During the same time, the main index of the US dollar, which measures the performance of the green currency against 6 major currencies, fell by 0.7 percent at 65,982.


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