Gold tries to recover from 1-month low
Gold prices rose today in the European market, for the first day in the last 5, in attempts to recover from 1-month low hit yesterday, while dollar's rise against a basket of currencies curbs gold's gains.
Gold prices rose by 0.6% to $1,495.02 an ounce, from the opening of $1,485.66, with a low of $1,485.03.
Yesterday, gold closed lower by 0.9%, its fourth daily loss in a row, as it slumped to a 1-month low of $1,484.48 an ounce.
Gold fell on low heaven demand as risk appetite improved, in addition to profit-taking from a 6-year high on last Wednesday
That risk appetite improved after the announcement of the latest round of the US-China trade talks by next month, in addition to British Parliament passing a bill to prevent the no-deal Brexit.
The dollar index rose by 0.2% today against a basket of currencies, extending its gains for the second straight day, which doesn't favor most metals and commodities denominated in dollars.
Dollar drew support from the 10-year US Treasury yield rising to a 3-week high, as market risk appetite improved and recession fears in the US eased.
Gold holdings at SPDR Gold Trust, remained unchanged yesterday to a total of 882.42 metric tons (the lowest level since September 2).
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1051
|
-0.0043
|
0.3903%
|
|
|
|
|
1.3124
|
0.0123
|
0.9442%
|
|
|
|
Tadawul
|
8386.35
|
-41.86
|
0.50%
|
|
|
|
|
17.806
|
-0.215
|
1.196%
|
|
|
|
|
55.740
|
-3.038
|
5.168%
|
|
|
|
|
62.04
|
-1.17
|
1.85%
|
|
|
|
|
1561.740
|
4.825
|
0.310%
|
|
