The yellow metal falls below $ 2000 with the rise of the US currency


Sharjah 24 – Reuters:

The yellow metal fell, on Wednesday, in immediate transactions 0.4% to 1993.34 dollars an ounce, by 05:05 GMT, after hitting the highest level in a week at 2014.97 dollars an ounce, on Tuesday.

In US futures, gold lost 0.5% to $ 2002.40.

Margaret Yang of Delifex mentioned that gold is dropping because the dollar has rallied slightly this morning, in the short term, the recovery of the US dollar may halt the bullishness of the dollar.

She added, that gold has recorded a gain of 3% in the past two days, which makes the metal prices vulnerable to profit-taking.

The dollar index rose 0.1% against its rivals after falling to its lowest level in two years in the last session.

The rise in the dollar increases the cost of gold for holders of other currencies.

As for the other precious metals, silver increased 0.2% to $ 27.70 an ounce, while platinum lost 0.4% to $ 952.88, and palladium fell 0.8% to $ 2170.29.


Please enter your comment!
Please enter your name here