Gold closes lower after two sessions of gains


Gold closes lower after two sessions of gains

Gold prices fell during trading today, Tuesday, after two sessions of gains, under pressure from the dollar’s rise against most of the major currencies.

The US trade deficit decreased by 8.2% in April, recording $68.9 billion.

Later this week, US inflation data will be released, which showed some signs of rising recently, which negatively affected the performance of Wall Street and the bond markets.

This comes in light of the close follow-up also to the statements of the members of the US Federal Reserve to know the directions of monetary policy.

On the other hand, the dollar index (against a basket of major currencies) rose by 18:26 GMT by 0.2% to 90.1 points, and recorded the highest level at 90.1 points and the lowest level at 89.9 points.

At the close of the session, gold futures for August delivery fell 0.2%, or the equivalent of $4.40, to $1894.40 an ounce, and the precious metal recorded the highest price at $1906.9 and the lowest at $1885.7.


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