Gold keeps its gains for the second day in a row as the US dollar index fell
2018-05-11 11:52 am | Resource: NEWS | No Views : 158
Gold keeps its gains for the second day in a row as the dollar index fell from a 5-month high after yesterday's announcement of key US inflation data, which provides strong evidence of the pace of tightening US monetary policy this year.
The dollar index fell 0.17% on Friday on its way to the first weekly loss due to correction and profit taking after recording a five-month high of 93.25 earlier in the week.
Gold prices rose by 0.23% to reach $ 1325 per ounce after recording a low of $ 1318 per ounce and opened today's session at 1321 $ per ounce to reach the highest level at 1325 $ an ounce.
Looking at silver trading, silver lost 0.23% to $ 16.82. Silver opened today at $ 16.74 and hit a high of 16.83 and a low of 16. , $ 70 per ounce.
Gold prices gained 0.6% this week, close to the first weekly gain in a month, based on the US currency's rally against a basket of major and minor currencies.
Time frame Used - four hours Oil is moving in a bearish direction in the near term The bears managed to control the movement of oil to break the support level around the level of 70.46 down to reach the bearish target around the level of 68.27 forming a positive candlestick pattern In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of…
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