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After a summer surge.. Gold retracts as dollar stabilizes

Category: Economy

Date: 2020-07-28T09:29:58+0000
After a summer surge.. Gold retracts as dollar stabilizes

Shafaq News / Gold pared gains today, Tuesday, after setting a new record, while the dollar compensated part of its losses.


The tension between the United States and China is betting on the Federal Reserve's confirmation of soft policies, to support gold.


Gold rose in immediate transactions 0.1% to 1943.14 dollars per ounce, by the time 0507 GMT, but without a peak, at 1980.57 dollars per ounce. The decline is due to profit-taking sales.


Also, gold futures rose in the United States 0.2% to 1934.90 dollars, while Silver pared its gains and rose 0.7% after increasing by 6.4% to $ 26.19 per ounce.


The dollar index rose from a two-year low, as the market awaited the approval of a new financial rescue package.


Platinum lost 1.5% to 931.32 dollars, while palladium lost 2.2% to 2263.84 dollars.


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