Arab Today, arab today gold down sharply after dollar strengthens
Last Updated : GMT 02:28:27
Arab Today, arab today
Arab Today, arab today

Gold down sharply after dollar strengthens

Arab Today, arab today

Arab Today, arab today Gold down sharply after dollar strengthens

Gold futures
Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as the U.S. dollar rose sharply, putting pressure on the precious metal.

The most active gold contract for June delivery fell 21.8 U.S. dollars, or 1.75 percent, to settle at 1,226.50 dollars per ounce.

The precious metal was put under pressure as the U.S. Dollar Index rose sharply, reaching above a 95.1 level during intraday trading but is at 94.82, representing a 0.4 percent gain by 18:25 GMT.

The index is a measure of the dollar against a basket of major currencies.

Gold was put under further pressure as a report released by the U.S. Department of Labor on Thursday showed the weekly jobless claims falling by 13,000 to a 253,000 level during the week ending on April 9. Analysts note that this report was much better than expected and is a sign of strong U.S. employment.

Stronger U.S. equities also put pressure on the precious metal as the U.S. Dow Jones Industrial Average rose by 28.93 points, or 0.16 percent, as of 18:30 GMT. Analysts note that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven, while the opposite is true when U.S. equities post gains.

The precious metal was prevented from falling further as a report released by the U.S. Department of Commerce on Thursday showed the consumer price index rising by a worse-than-expected 0.1 percent. Analysts note that this is a sign of soft inflation data, but is not necessarily a bad sign for the U.S. economy in the wider sense of things.

Silver for May delivery lost 15.2 cents, or 0.93 percent, to close at 16.173 dollars per ounce. Platinum for July delivery dropped 10.1 dollars, or 1.01 percent, to close at 992.90 dollars per ounce.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold down sharply after dollar strengthens Arab Today, arab today gold down sharply after dollar strengthens

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold down sharply after dollar strengthens Arab Today, arab today gold down sharply after dollar strengthens

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 17:28 2017 Thursday ,18 May

Saudi stocks rise in heavy trading

GMT 21:37 2017 Wednesday ,17 May

US Stocks Close Mixed

GMT 04:58 2017 Wednesday ,17 May

Tadawul index gains 0.7%

GMT 06:20 2017 Tuesday ,16 May

Tadawul index climbs 0.6%

GMT 13:43 2017 Monday ,15 May

Oman share index declines marginally
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday