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​Gold continues its losses for a second straight day near its lowest level since Dec 22

2018-05-16 02:28 pm | Resource: NEWS | No Views : 44



Gold continues its losses for a second straight day, near its lowest level since Dec. 22, after the US dollar index rose to its highest level on Dec. 19, 2017.

Turning into losses and breaking the $ 1,300 barrier as the US dollar index rose to its highest level since 22 December after the release of US retail sales.

Following the announcement of housing market data showing a drop in construction starts and construction permits in the United States in April.

 The index of homes starts to decline by 1.8% to 1,352 thousand homes compared to a rise of 4.1% to about 1,377 homes in March last year

US President 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 dollar index rose 0.12% on Wednesday, reaching a 6-month high after correction, to 93.26.

The price of gold on Wednesday fell by 0.09% to reach levels of 1289 dollars per ounce after reaching a low of 1285 dollars an ounce and opened today's session at 1290. $ per ounce, reaching a high of 1296 dollars an ounce.

Looking ahead to silver, silver has seen gains in European trade, with silver gaining 0.16% to $ 16.29. Silver opened today at $ 16.27, hitting a high of 16.34 and a low of 16 , $ 19 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 24 May 2018

Time frame Used - four hours Oil is moving in a sideway in the near-term Purchasing power managed to push oil to level of  72.60 where it faces resistance around this level   In view of the technical indicators Both the RSI and the Stochastic are pointing to the continued decline of the indicators Therefore, we expect that the  oil will  test level of  70.33 again The alternative scenario is…

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