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Gold futures rose, taking advantage of the decline in the US dollar since the beginning of trading on Tuesday, as stock markets and US Treasury bonds were closed to mark the Independence Day holiday.
Gold futures rose to $1,924.69 per ounce, compared to the previous daily closing, which was recorded at $1,920 per ounce. And the precious metal contracts fell to their lowest level in the current session at $1919, compared to the highest levels that recorded $1930.
The US dollar has been declining since the beginning of trading on Tuesday, amid the lack of data on the economic calendar that has a direct impact on price movement, which is an extension of what happened to the US currency last Monday, after an improvement in risk appetite based on positive economic data in terms of inflation and growth.
The dollar index, which measures the performance of the US currency against a basket of major currencies, fell to 102.97 points, compared to the previous daily closing of 102.99 points.
The index rose to its highest level on Tuesday’s trading day at 103.09 points, compared to the lowest level, which recorded 102.88 points.
