Gold closes higher for the tenth session in 11

Economies.com
2019-06-12 18:15PM UTC

Gold prices rose during today's trading despite the rise of dollar against most of the major currencies, but the precious metal received support from the decline in equity markets in addition to the uncertainty about trade disputes and the Brexit.

 

US President Donald Trump expressed optimism about a possible trade deal with China on the sidelines of the G20 summit later this month.

 

However, Trump has threatened Beijing government with more tariffs if Chinese President Xi Jinping does not attend the G20 summit and seek a trade deal.

 

In a related context, the dollar index (against a number of major currencies) rose by 0.2% to 96.9 points at 18:02 GMT, recording a high of 96.9 points and a low of 96.5 points.

 

In today's settlement, gold futures (August delivery) rose 0.4% to $1336.8 per ounce, with the precious metal hitting a high of $1342.3 and a low of $1329.8.

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