Gold closes slightly higher amid dollar's pressure

Economies.com
2019-06-14 18:51PM UTC

Gold prices rose slightly during today's trading amid a wide dollar rally against most major currencies, as well as the continued concerns about the trade war.

 

US President Donald Trump expressed confidence that China would conclude a trade deal with the United States to avoid the scourge of a trade war.

 

Trump said he is not interested in the presence of Chinese President Xi Jinping at the G20 summit, saying it would mean billions of dollars in tariffs from Beijing to the US.

 

In a related context, the dollar index (against a number of major currencies) rose by 0.5% to 97.5 points at 18:38 GMT, reaching a high of 97.5 points and a low of 96.9 points.

 

Gold futures (August delivery) rose 0.1% to close at $1344.50 per ounce. The precious metal notched a weekly loss by 0.1%, with the day's highest at $1362.2 and the lowest at $1341.4.

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