Gold rises for first day in 4 as dollar falls

Economies.com
2021-02-16 11:29AM UTC

Gold prices rose on Tuesday for the first time in 4 days, as the US dollar fell, while demand rose due to bargain hunting after prices fell.

 

Gold prices rose 0.4% to $1,826.46, after opening at $1,819.22, and hit a day low at $1,817.52.

 

The yellow metal closed lower by 0.3% yesterday, in its third straight daily loss, due to slow safe-haven demand.

 

The dollar index fell more than 0.3% today, extending its losses for the second straight day, and hit a 3-week low of 90.11 points.

 

A falling US dollar lifts the prices of gold and other dollar-denominated metals, as it makes them cheaper for other currencies holders.

 

The US dollar fell due to weak demand, amid optimism about the global economic recovery thanks to massive stimulus measures and vaccination campaigns.

 

Gold stocks at the SPDR ETF remained unchanged yesterday, with the total at the lowest level since June 12 of 1,142.22 metric tonnes.

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 ...