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Gold Snaps Three-Day Losing Streak

M. Ali 11 August, 2021 2:48 am Commodities, Market Update

Gold prices rose on Tuesday, despite the rise of the U.S. Dollar (USD) across the board, with investors tempted by the relatively low levels that the yellow metal has reached following recent declines.

Gold front-month futures closed higher by $5.40, or 0.31%, at $1,728.8 per ounce.

This market the largest rise of the yellow metal contracts since July 29, and the first in four sessions.

Meanwhile, the Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is up for the day by 0.12% at 93.055, after hitting a daily high of 93.139.

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