Updated..gold falls $ 44 upon settlement of the rise of the US currency


Mubasher: Gold prices deepened globally to about $ 44 when settling transactions today, Thursday, to retreat below $ 1,800, with the strength of the US currency.

And the yellow metal came under pressure with a noticeable rise in the dollar and US bond yields during trading, while waiting for clarity on the fiscal stimulus package.

Economic data showed Decline in jobless claims In the United States to its lowest level in two months over the past week.

Factory orders in the US increased more than expected during the last month of 2020.

Upon settlement, the price of gold futures contracts for April delivery fell 2.4 percent, or $ 43.90, to $ 1791.20 an ounce.

By 6: 55 pm GMT, the spot price of the yellow metal fell by about 2.5 percent to $ 1788.20 an ounce.

During the same period, the main dollar index, which measures the currency’s performance against 6 major currencies, rose by 0.4 percent to 91.56, the highest in two months.


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