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Gold falls below $1,800 as dollar stabilizes

Economies.com
2021-10-15 19:07PM UTC

Gold prices fell on Friday, as the US dollar steadied against most major currencies, after the release of positive economic data, which pushed the metal below the $1800 barrier.

 

Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.

 

The Federal Reserve meeting minutes showed that the central bank's members discussed a plan to reduce asset purchases by $15 billion per month.

 

The dollar index held against a basket of major currencies at 93.9 points as of 19:55 GMT, after hitting a high of 94.07 points and a low of 93.8 points.

 

Gold spot prices rose 1.6% to $1,768.4 an ounce as of 19:55 GMT.

Dollar steadies after positive economic data

Economies.com
2021-10-15 18:57PM UTC

The US dollar held steadily against most of its rivals on Friday, after the release of better-than-expected economic data.

 

Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.

 

The season of the US companies quarterly earnings results continues, as some major banks reported higher profits and revenues than expected in the third quarter, which points out the ongoing economic recovery from the pandemic.

 

The Federal Reserve meeting minutes showed that the central bank's members discussed a plan to reduce asset purchases by $15 billion per month.

 

The dollar index held against a basket of major currencies at 93.9 points as of 18:46 GMT, after hitting a high of 94.07 points and a low of 93.8 points.

Dow Jones rises above 35,000 in early trading

Economies.com
2021-10-15 14:30PM UTC

US stock indices opened higher on Friday, extending gains, as Dow Jones resumed its climb above 35,000 points.

 

Data showed today that the US retail sales rose 0.7% in September, while analysts forecast a drop by 0.2%, and the core retail sales reading rose 0.8%, beating forecasts of 0.5%.

 

The season of the US companies quarterly earnings results continues, as some major banks reported higher profits and revenues than expected in the third quarter, which points out the ongoing economic recovery from the pandemic.

 

As for stocks, Dow Jones rose 0.7% or 250 points to 35,162 as of 14:29 GMT, and S&P 500 rose 0.5% or 21 points to 4,459, while Nasdaq rose 0.2% or 28 points to 14,851.

Nickel extends gains, rises near $20,000/ton barrier

Economies.com
2021-10-15 13:55PM UTC

Nickel prices rose on Friday, as the US dollar rose against most major currencies, thanks to the strong global demand for metals and supply shortage.

 

Commodities and metals rise led to an increase in inflation in several economies, which led their central banks to hint at reducing the pandemic's quantitative easing programs and asset-buying.

 

Palladium, nickel and platinum have link with the auto industry, and the latter is suffering from a shortage of electronic chips, but optimism is growing in the industry, after many companies started to work on the shortage of chips.

 

The dollar index held against a basket of major currencies at 93.9 points as of 13:41 GMT, after hitting a high of 94.07 points and a low of 93.8 points.

 

Nickel spot prices rose 2.4% to $19,689.6 per ton as of 13:54 GMT.

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What is the price of Gold today?

The price of Gold is $3330.340 (2025-07-15 19:55PM UTC)