{"id":31309,"date":"2020-07-13T23:40:08","date_gmt":"2020-07-13T19:40:08","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=31309"},"modified":"2020-07-13T23:41:53","modified_gmt":"2020-07-13T19:41:53","slug":"gold-resumes-gains-at-mondays-close","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/gold-resumes-gains-at-mondays-close\/07\/13\/market-updates\/","title":{"rendered":"Gold Resumes Gains at Monday\u2019s Close"},"content":{"rendered":"\n

Gold prices rose on Monday after posting two consecutive declines, during which it was able to maintain the $1,800 level.<\/p>\n\n\n\n

Although the yellow metal did not yet restore its highest level in nine years, where it closed last Wednesday, gold futures for August delivery increased by $12.20, or 0.7%, and settled at $1,814.10 per ounce.<\/p>\n\n\n\n

The precious metal\u2019s gains were supported by the decline of the US Dollar<\/a> (USD) against major currencies, although the Dollar Index (DXY) has narrowed its losses to 0.16%.<\/p>\n\n\n\n

Spot gold is trading near $1,804 per ounce, up by around 5% for the day.<\/p>\n\n\n\n

Goldman Sachs has raised its forecasts for gold prices<\/a> during 2020, according to a recent note.<\/p>\n\n\n\n

The bank sees gold prices at $1,800 per ounce during the next three months, at $1,900 for the coming six months, and at $2,000 a ton for the coming 12 months.<\/p>\n\n\n\n

Goldman Sachs further explained that \u201cgold investment demand tends to grow into the early stage of the economic recovery, driven by continued debasement concerns and lower real rates.\u201d<\/p>\n\n\n\n

\u201cSimultaneously, we see a material comeback from emerging market consumer demand, boosted by easing of lockdowns and a weaker Dollar.\u201d<\/p>\n\n\n\n

The bank expects a per ounce price average of $1,740 in 2020 and $1,988 in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gold prices rose on Monday after posting two consecutive declines, during which it was able to maintain the $1,800 level. Although the yellow metal did not yet restore its highest level in nine years, where it closed last Wednesday, gold futures for August delivery increased by $12.20, or 0.7%, and settled at $1,814.10 per ounce. …<\/p>\n","protected":false},"author":10,"featured_media":30640,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[6874],"class_list":["post-31309","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=31309"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31309\/revisions"}],"predecessor-version":[{"id":31312,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/31309\/revisions\/31312"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/30640"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=31309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=31309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=31309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}