Gold rebounds from 3-week high as dollar softens

2021-11-25 12:14:17 GMT (Economies.com)
Gold rebounds from 3-week high as dollar softens

Gold prices fell on Thursday, rebounding from a 3-week low,  to head for the first gain in 6 days, thanks to the US dollar's drop against most of its peers.

 

Gold prices rose 0.4% to $1,795.06, after opening at $1,788.82, and hit a day low at $1,785.95.

 

Gold closed lower by less than 0.1% yesterday, posting its fifth straight daily loss and hit a 3-week low at $1,778.45 an ounce, after upbeat economic data in the US.

 

The US Department of Labor revealed that the number of initial unemployment claims fell to the lowest level since 1969.

 

The Federal Reserve meeting minutes showed the bank's members are open to accelerating the reduction of bond-buying program if inflation continues to rise, while speeding up raising interest rates.

 

The dollar index fell 0.2% today, and gave up a 16-month high, to head for the first loss in 5 days against a basket of major currencies.

 

Gold stocks at the SPDR ETF remained unchanged on yesterday, with the total at the highest level since September 24 of 991.11 metric tonnes.

 
 
 
  Symbol Last Change Chg.%
1.1292
0.0049
0.4339%
1.3338
-0.0068
0.5042%
Tadawul
11299.45
-68.73
0.60%
23.648
-0.839
3.428%
74.176
-1.674
2.207%
77.55
-4.71
5.73%
1808.835
-9.000
0.495%
 
 
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