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Gold opens new week on gains despite investors increased risk appetite

2018-05-14 09:01 am | Resource: NEWS | No Views : 141



Gold opens new week's gains on gains, despite rising risk appetite among investors, and reduced trade tensions between the US and China.

As the world's top nuclear negotiator Kim Jong-un and US President Donald Trump are due to meet in Singapore next month after North Korea announced its plans to dismantle the nuclear test site from May 23 to 25, depending on weather conditions, the official KCNA news agency reported. A statement issued by the Ministry of Foreign Affairs.

The decline in the dollar index also helped the gold price rise because of the inverse relationship. The dollar index recorded a 5-month high in the past week but turned to a drop after weak US inflation data on Thursday, Expectations of further monetary tightening by the Federal Reserve.

The dollar index fell 0.17% on Friday, hitting its first weekly loss, on correction and profit taking, after hitting a five-month high of 93.25 points earlier in the week.

Gold prices rose by 0.06% to reach $ 1321 per ounce, after reaching a low of $ 1318 per ounce.

Looking at silver trading, silver lost 0.10% to reach $ 16.73. Silver opened today at $ 16.70 and hit a high of 16.76 and a low of $ 16.76. $ 16.68 per ounce.

Gold prices gained 0.6% last week, marking the first weekly gain in a month, on the back of the US currency's rally against a basket of major and minor currencies.


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OIL Technical analysis 16 August 2018

Time frame Used - four hours Oil is moving in a bearish direction in the near term The selling force managed to control the movement of the oil to break the support level of 66.30 down to reach the second support level of 64.84, forming a positive candlestick pattern   In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of the indicators to…

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