Commodities

Gold falls as dollar rises

2021-12-06 11:49:37 GMT (Economies.com)

Gold prices fell on Monday, resuming losses after the recovery attempts from a 4-week low halted, weighed down by the US dollar's rise against its peers.

 

Gold prices fell 0.4% to $1,777.75, after opening at $1,784.62, and hit a day high at $1,787.70.

 

Gold closed higher by 0.8% on Friday, within recovery attempts from a 4-week low of $1,761.78 hit on Thursday.

 

Gold prices rose on Friday after disappointing US jobs data for November.

 

Gold prices lost 0.3% last week, the third straight weekly loss, due to weak demand as a safe haven.

 

The dollar index rose 0.2% on Monday for the fourth straight session against a basket of major rivals.

 

The gains come after several Federal Reserve officials' statements boosted the chances of accelerating the US monetary policy tightening.

 

Gold stocks at the SPDR ETF fell 1.79 metric tonnes yesterday, with the total at the lowest level since last November 17 of 984.38 metric tonnes.

More News

Risk Disclaimer : Enzious Limited would like to remind you that the data provided in this site is not necessarily in real time or accurate. All stock prices, indices, futures and foreign exchange rates are not provided by exchanges but by market makers, so prices may not be accurate, may differ from the price of the actual market, which means that the quotes represent an indication and are not suitable for commercial purposes. Therefore Enzious Limited does not assume any responsibility for any business losses that may be incurred as a result of the use of this data.