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Gold Prices Decline as USD Rises

M. Ali 6 October, 2020 11:40 pm Commodities, Market Update

Gold futures closed lower on Tuesday, after opening the week at its highest level in about two weeks, as the US Dollar (USD) is showing some recovery signs.

Gold futures for December delivery declined by $11.30, or 0.6%, and settled at $1,908.80 per ounce.

Meanwhile, silver futures for December delivery finished lower by 64 cents, or 2.6%, at $23.92 per ounce.

The Dollar Index (DXY), which measures the USD performance in front of a basket of six major international currencies, is up by 0.16% for the day at 93.66.

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