Gold prices rose and on track to achieve gains for the second week in a row thanks to the weak dollar as weak jobs data in the United States negatively affected hopes for the economic recovery.<\/p>\n\n\n\n
Gold rose in spot trading 0.6% to 1953.70 dollars an ounce with the opening of European markets and rose 0.6 % since the beginning of this week.<\/p>\n\n\n\n
US gold futures rose 0.6% to $ 1,961.30.<\/p>\n\n\n\n
The dollar index is heading for a weekly decline, which increases the attractiveness of gold to holders of other currencies.<\/p>\n\n\n\n
The US Weekly Unemployment Benefits Report showed that about 30 million people were still receiving unemployment benefits at the end of August, revealing the economic losses caused by the Covid-19 pandemic.<\/p>\n\n\n\n
And gold has gained nearly 29% since the start of this year, supported by near-zero interest rates around the world and demand for hedging in the face of inflation expectations.<\/p>\n\n\n\n
Continuing this trend, the US Federal Reserve pledged on Wednesday to keep interest rates near zero for an extended period.<\/p>\n\n\n\n
On Thursday, the Bank of England said it was studying negative interest rates, while the Bank of Japan indicated it was ready to increase the stimulus.<\/p>\n\n\n\n
As for other precious metals, silver gained 0.2% to $ 27.16 an ounce, while platinum gained 0.2% to $ 942.06, and palladium gained 0.4% to $ 2,347.21.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices rose and on track to achieve gains for the second week in a row thanks to the weak dollar as weak jobs data in the United States negatively affected hopes for the economic recovery. Gold rose in spot trading 0.6% to 1953.70 dollars an ounce with the opening of European markets and rose …<\/p>\n","protected":false},"author":9,"featured_media":31385,"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":[38,6827,49,36],"tags":[6874],"class_list":["post-34188","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-gold"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/34188","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=34188"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/34188\/revisions"}],"predecessor-version":[{"id":34189,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/34188\/revisions\/34189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31385"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=34188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=34188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=34188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}