Open Demo Account
Home / Market Update / Commodities / Gold Rises Amid Weaker Risk Appetite

Gold Rises Amid Weaker Risk Appetite

M. Ali 27 August, 2021 2:58 am Commodities, Market Update

Gold prices rose on Thursday, because of the higher demand for safe-haven assets with a slump in risk appetite, as investors anticipate the upcoming speech by the U.S. Federal Reserve Chair Jerome Powell in an economic forum on Friday.

The front-month gold futures added $4, or 0.22%, to finish at $1,792.20 per ounce.

The yellow metal, which rose for four of the past five sessions, is still struggling to restore the $1,800 key level and is down month-to-date by 1.13%.

In addition, gold futures rose despite the U.S. Dollar (USD) rising for the first time in five sessions.

Tags

Check Also

Asian Stocks Rocket to Records as Trump’s Hormuz MOU Claim Sends Oil Below $100: Nikkei Hits All-Time High

Key Takeaways Nikkei hits record: Japan’s benchmark index surged as much as 3.3% to an …

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