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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.

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