Open Demo Account
Home / Market Update / Commodities / Gold Loses Its Luster With The Rise of The Dollar After The Statements of The US Fed

Gold Loses Its Luster With The Rise of The Dollar After The Statements of The US Fed

Adel 5 August, 2021 1:19 pm Commodities, Market Update


Gold prices came under pressure Thursday, August 5th, after comments from the US Federal Reserve boosted the dollar, while investors are now focusing on non-farm payrolls data for indications of a labor market recovery.

And gold fell in spot transactions 0.1 percent to $ 1809.91 an ounce, while US gold futures fell by the same percentage to $ 1812.10.

Gold prices rose more than 1% in the previous session on the back of the disappointing national employment report from the APD, but pared the gains after Fed Vice President Richard Clarida said that the conditions for raising interest rates could be met by the end of 2022.

Tags

Check Also

U.S. Dollar Rebounds as Euro Weakens Following Lagarde’s Dovish Tone

The U.S. dollar strengthened on Monday, recovering from sharp losses late last week. Signs of …

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