Commodities

Gold falls more than 2% on rising dollar

2021-09-16 17:49:16 GMT (Economies.com)

Gold prices fell on Thursday, as the US dollar rose against most currencies, lifted by upbeat US economic data.

 

The US retail sales index rose 0.7% in August, beating forecasts of a drop by 0.7%.

 

The core retail sales reading (excluding food and fuel prices) rose 1.8%, beating forecasts of a drop by 0.1%.

 

The US Department of Labor revealed that the number of initial unemployment claims was at 332K last week from 325K, lower than forecasts of 332K.

 

The dollar index rose against a basket of major currencies by 0.4% to 92.9 points as of 17:19 GMT, after hitting a high of 92.9 points and a low of 92.4 points.

 

As of 17:20 GMT, gold spot prices fell 2.2% to $1,755.8 an ounce, after hitting a high of $1,797.3 and a low of $1,745.5.

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.