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Gold in a Narrow Range

Adel 3 July, 2020 12:46 pm Forex Market, Market Update

Gold recorded stability and remained in a narrow trading range of five dollars on Friday, influenced by fears of a high number of Covid 19 cases and continued trade tensions between the United States and China as well as a higher-than-expected payroll report (NFP).

There was little change in gold and held at $1775.35 an ounce at 06:47 GMT with the US markets closed on Friday due to Independence Day holiday.

The United States announced 55,000 new infections on Thursday.

As for the other precious metals, palladium decreased by 0.4%, platinum rose 0.8%, and silver gained 0.4%.

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