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Gold continues its losses for the third day in a row

2018-02-08 12:37 pm | Resource: NEWS | No Views : 165

Gold futures continue to fall for the third day in a row as the US Dollar Index rose, with gold prices falling Thursday, hitting a one-month low since January 11, falling 0.17% to $ 1,312. To an ounce, opened today at 1318.01, and recorded the highest level 1319.21, and the lowest level of 1309.16, the lowest since January 11 last

Yesterday, gold prices ended 0.5% lower, the second consecutive daily loss, as most metals and dollar denominated commodities fell, as well as weak investment demand for safe-haven assets. Following the rise of the dollar index, which measures the performance of the US currency against a basket of major currencies at 90.24, amid expectations of further raising the US interest rate this year.

The dollar index gained 0.1% to reach 90.30 in mid-European session. Gold is highly sensitive to the rise in US interest rates as it increases the opportunity cost of carrying non-bullion bullion. Produced, with the strengthening of the dollar in which it is priced, the strong US dollar usually affects gold, because it reduces the attractiveness of the metal as an alternative asset and makes commodities at dollar prices more expensive for other currency holders.

On the silver side, it lost the same trend, recording a drop of 0.08% to reach $ 16.22, affected by the decline of the precious metal, the high risk appetite of investors, and their appetite to buy the US dollar, in preparation for high interest rates, following anticipation Federal Reserve's decision in March

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