Gold closes higher despite rising dollar
Gold prices rose on Wednesday, and shrugged off a frim dollar and upbeat economic data.
Data showed today that the US consumer price index rose in by 0.4% during December, and the core reading (excluding energy and food prices) rose 0.1%, after rising by 0.2% in November.
Investors are anticipating President-elect Joe Biden's plans to launch a huge stimulus package to support the US economy that is worth trillions of dollars, as he said more details would be revealed on Thursday.
The dollar index rose against a basket of major currencies by 0.2% to 90.3 points as of 20:10 GMT, after hitting a high of 90.3 points and a low of 89.9 points.
Gold February futures rose 0.6% or $10.7, and closed at $1,854.90 an ounce, with today’s high at $1,863, and the low at $1,849.1.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.2130
|
0.0065
|
0.5383%
|
|
|
|
|
1.3680
|
0.0131
|
0.9683%
|
|
|
|
Tadawul
|
8878.30
|
-29.61
|
0.33%
|
|
|
|
|
25.817
|
0.912
|
3.662%
|
|
|
|
|
53.110
|
0.810
|
1.549%
|
|
|
|
|
56.08
|
-0.23
|
0.41%
|
|
|
|
|
1870.230
|
34.115
|
1.858%
|
|
