Gold shrugs off firm dollar and turns higher
Gold prices rose on Tuesday, despite the US dollar's rise against most of its peers and the recovery of the market's risk appetite.
Investors are anticipating major companies to report their quarterly results for the third quarter starting this week.
The International Monetary Fund lowered today its estimate for global GDP growth by 0.1% to 5.9% in 2021, and kept its forecast for 2022 at 4.9%.
The IMF also lower its forecast for US GDP in 2021 by 1% to 6% from a growth by 7% in its previous estimate.
The dollar index rose against a basket of major currencies by 0.2% to 94.5 points as of 18:13 GMT, after hitting a high of 94.5 points and a low of 94.2 points.
Gold spot prices rose 0.3% to $1,760.3 an ounce as of 18:14 GMT, with a day high at $1,770.7, and a low at $1,750.5
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1603
|
-0.0009
|
0.0814%
|
|
|
|
|
1.3737
|
-0.0032
|
0.2313%
|
|
|
|
Tadawul
|
11807.79
|
-43.89
|
0.37%
|
|
|
|
|
24.064
|
-0.412
|
1.683%
|
|
|
|
|
82.150
|
-2.777
|
3.270%
|
|
|
|
|
84.29
|
-2.15
|
2.49%
|
|
|
|
|
1795.710
|
-8.335
|
0.462%
|
|
