Open Demo Account
Home / Market Update / Commodities / Gold Returns to Losses as USD Rises

Gold Returns to Losses as USD Rises

M. Ali 12 November, 2020 2:00 am Commodities, Market Update

Gold prices declined on Wednesday, returning to losses after a brief recovery on Tuesday, as demand for the yellow metal decreased since news about the COVID-19 vaccine success emerged.

In addition, a rise by the US Dollar (USD) across the board, led to the precious metal price decline.

Gold futures for December delivery declined by $14.80, or 0.8%, to finish at $1,861.60 per ounce.

The yellow metal, which plunged by 5% on Monday, is now down by 4.6% for the week.

Tags

Check Also

Gold Prices Surge on Cooling US Inflation and Fed Rate Cut Bets

Gold prices climbed modestly on Wednesday, with XAU/USD trading near $3,341.75, up up+0.55% after briefly …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends