Taking profits reduces gold … and the dollar to its lowest level in a week

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Gold fell on Thursday following a sharp increase in the previous session, as investors adjusted their positions to focus on whether the Federal Reserve Chairman (the US Central Bank) would hint at a change in monetary strategy.
In spot transactions, gold fell 0.8% to 1938.32 dollars an ounce, after rising 1.3% on Wednesday. And US gold futures fell 0.3% to 1946.70 dollars an ounce.
In currency markets, the dollar remained near its lowest level in a week, which it reached earlier on Thursday.
The euro was last in $ 1.1822, after rising to a six-day high of $ 1.1850 earlier.
The dollar index, which tracks the performance of the greenback against a basket of six currencies, settled at 92.98, near its weakest level this week and not far from its two-year low of 92.12, which it touched last week.
Since the start of the pandemic, the Fed has expanded its balance sheet by nearly $ 3 billion, far more than the European Central Bank and the Bank of Japan.
The dollar settled against the Japanese yen at 106.02.
(Agencies)

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