Open Demo Account
Home / Market Update / Commodities / Gold Settles Near $2,070 per Ounce

Gold Settles Near $2,070 per Ounce

M. Ali 7 August, 2020 1:49 am Commodities, Market Update

Gold prices rose on Thursday for the fifth consecutive session, amidst an increase in demand for safe havens and the US Dollar (USD) returning to losses after briefly attempting recovery.

Gold futures gained $20.10 or 1.2% to settle at $2,069.40 per ounce.

Markets are still anticipating a deal in the US Congress over a new stimulus package.

President of the Federal Reserve Bank of Richmond, Thomas Barkin, recently said that the US economy faces the risk of a larger downturn than previously expected if Congress does not provide the needed support through another stimulus package.

Tags

Check Also

Geneva framework: Will Trade Deals Dodge Looming Tariff Storm?

The U.S. dollar surged on news of advancing trade talks, particularly with China. U.S. Commerce …

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