Gold notches weekly gain despite closing lower

Economies.com
2019-05-24 18:18PM UTC

Gold fell in today's trading as investors headed for equity markets despite the decline of the US dollar against most major currencies.

 

A state of concern surrounds the world markets as the US-China trade war escalates, as well as uncertainty about the fate of Brexit following the resignation of British Prime Minister Theresa May.

 

Separately, the dollar index (against most major currencies) fell by 0.3% to 97.5 points as of 18:05 GMT, reaching a high of 97.9 points and a low of 97.5 points.

 

US government data showed that durable goods orders fell by 2.1% in April.

 

US President Donald Trump announced on Tuesday that his administration would launch a $19.1 billion program to help farmers affected by the trade war.

 

Gold futures (June delivery) fell by 0.1% to $1283.6 an ounce, as the precious metal gained 0.6% this week, with the day's highest price at $1284.7 and the lowest at $1280.1.

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