Open Demo Account
Home / Market Update / Commodities / Gold Rises as Dollar Falls on Deteriorating Consumer Confidence

Gold Rises as Dollar Falls on Deteriorating Consumer Confidence

M. Ali 25 May, 2021 11:30 pm Commodities, Market Update

Gold prices rose on Tuesday, supported by the decline of the U.S. Dollar (USD) against major currencies, and with stock markets showing a mixed performance.

In addition, a slight decline in U.S. consumer confidence provides support for safe haven assets, including the yellow metal.

Gold futures for June delivery increased by $13.50, or 0.7%, to close at $1,898 per ounce.

The gold’s most active contracts failed to restore the $1,900 level.

Tags

Check Also

Gold Prices Fall as Risk Appetite Grows Ahead of U.S.-China Trade Talks and Inflation Data

Gold prices saw a decline on Tuesday in Asian trade, pressured by improving risk appetite …

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