|
Platinum hits two-week high as dollar retreats
Platinum prices rose on Monday to a two-week high as the dollar fell against a basket of rivals, buoying commodity demand as investors look for alternative investments.
Platinum last traded at $973.15 an ounce, compared to the opening of $973.65, with an intraday high at $987.05, and a low at $971.40.
Platinum's rise comes amid higher demand on gold and other commodities as investors look for safe havens and alternative investments, while global stocks tumble ahead of the official British exit from the European Union.
On the other hand, the dollar fell against a basket of rivals to a five-month trough after the Republican Party failed to pass its healthcare bill through Congress for lack of support, heaping pressure on the dollar and buoying commodities.
The dollar index, tracking the greenback against a basket of rivals, rose to 99.16 from the opening of 99.30, with an intraday high at 99.36, and a low at 98.84.
Thanks for your feedback.
Silver soars as dollar plunges
Silver prices rose on Monday to a three-week high as the dollar fell against a basket of currencies, underpinning the white metal as haven demand climbs.
MoreCrude prices start the week lower amid negative pressures
Crude prices fell on Monday amid ongoing negative pressures due to oversupply concerns, as U.S. crude stockpiles rose sharply last week, while OPEC's output cuts failed to support prices and offset rising U.S. shale production.
MoreSterling rallies to seven-week high
Sterling rose on Monday to a seven-week high as the dollar gave up ground against a basket of currencies, while markets await for the official British exit process from the European Union to start this week.
More