Gold falls more than 2% on rising dollar

Economies.com
2021-09-16 17:32PM UTC

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.

Commodities News

Gold News

Commodities

Gold hits fresh record highs, marking a 6% quarterly profit
2024-03-28 20:28PM UTC
Gold Prices Gold prices rose on Thursday to fresh record highs while the dollar eked out gains ...
Copper News

Commodities

Copper edges up while facing pressures from Chinese demand concerns
2024-03-28 16:45PM UTC
Copper prices rose modestly on Thursday while the dollar gained ground, with ongoing concerns about ...
Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price still confined – Forecast today – 29-3-2024
2024-03-29 06:16AM UTC
Natural Gas Price Forecast for Today - 29-3-2024 No news for natural gas price until this ...
Platinum Analysis

Commodities

Platinum price renews the positive action – Forecast today – 29-3-2024
2024-03-29 06:10AM UTC
Platinum Price Forecast for Today - 29-3-2024 Platinum price confirmed keeping the bullish ...
Copper Analysis

Commodities

Copper price gets the positive momentum – Forecast today – 29-3-2024
2024-03-29 06:09AM UTC
Copper Price Forecast for Today - 29-3-2024 Copper price repeated the positive stability ...