Sunday, May 19, 2024

Gold prices rise and the dollar falls


Gold rose on Tuesday, supported by a weaker dollar, but fears higher U.S. Treasury yields and the Federal Reserve tightening monetary policy than expected limited gold gains.

On the spot, gold rose 0.1 percent to $ 1780.60 during the 0644 GMT period, while US gold futures rose 0.2 percent to $ 1782.40.

The dollar fell 0.1 percent, reducing the cost of buying gold for buyers of other currencies.

Ten-year U.S. Treasury yields soared, extending gains last night.

The Federal Reserve (US Federal Reserve) policymakers are likely to step up stimulus measures at their meeting next week, after data showed that unemployment fell last month.

The US CPI report coming out on Friday could be crucial in predicting the central bank’s next move.

Among other precious metals, silver rose 0.2 percent to $ 22.40 an ounce in spot trading.

Platinum was up 0.3 percent at $ 940.50 and Palladium was down 0.6 percent at $ 1844.01.

Follow our latest local and sports news and the latest political and economic developments via Google News



See also  "Tecom" sets the price range for delivery between 2.46 and 2.67 dirhams
Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:


More like this

The Ultimate Guide to Men’s Facials in Dubai

In the bustling city of Dubai, where the sun...

Diversification Benefits of Indices Trading

Index trading is a popular investment option among traders...

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...