Report

rss

Iraq News

Kurdistan

Economy

World

All News

Gold hovers near 3-month low as dollar strength continues

Category: Economy

Date: 2022-05-16T07:13:22+0000
Gold hovers near 3-month low as dollar strength continues

Shafaq News / Gold prices edged down in choppy trading on Monday as a strong dollar hurt demand for the greenback-priced metal and set it on course for a more than three-month trough hit in the previous session.

However, a fall in benchmark U.S. 10-year Treasury yields limited losses in zero-yield gold, helping keep prices above the key psychological support level of around $1,800 per ounce.

Spot gold was down 0.1% at $1,808.61 per ounce, as of 0539 GMT. U.S. gold futures dipped 0.2% to $1,804.80.

Marking a fourth straight weekly decline, gold prices on Friday fell more than 1% to $1,798.86 per ounce, before closing at $1,811.15.

Concerns around global growth helped the dollar start the week just off a 20-year high against its peers, making rival safe-haven gold less attractive for buyers holding other currencies.

(Reuters)

related

Gold prices in the Iraqi local markets today

Date: 2021-10-05 11:12:02
Gold prices in the Iraqi local markets today

Gold drops in Iraq today

Date: 2021-06-28 09:48:27
Gold drops in Iraq today

Gold inched up in Iraq today

Date: 2021-07-12 09:17:59
Gold inched up in Iraq today

Gold prices drop in the Iraqi capital today

Date: 2022-05-18 09:05:42
Gold prices drop in the Iraqi capital today

Gold prices slip as strong U.S. jobs data lifts yields, stocks

Date: 2021-04-05 08:29:05
Gold prices slip as strong U.S. jobs data lifts yields, stocks

Gold jumps on inflation concerns, softer dollar

Date: 2021-02-23 09:01:09
Gold jumps on inflation concerns, softer dollar

Gold slips to near 1-week low on Fed Powell's hawkish stance

Date: 2022-03-23 06:06:36
Gold slips to near 1-week low on Fed Powell's hawkish stance

Gold prices stabilize in Iraq today

Date: 2021-08-11 08:11:17
Gold prices stabilize in Iraq today