Gold hits gains in European trade Tuesday after the US dollar index fell
2018-08-07 01:24 pm | Resource: NEWS | No Views : 134
Gold hits gains in European trade on Tuesday, after the US dollar index fell to a one-and-a-half year low on Friday.
Where the dollar index fell 0.35% to reach levels of 94.86 points, in the correction and profit taking after the highest level in three weeks 95.33 at levels.
The declines in the US dollar, in the absence of economic data to stimulate the continuation of the rise of the US dollar, and the focus on inflation data in the United States, which will be issued later this week.
Following the announcement of labor market data in the United States last week, which has kept the possibility of raising US interest rates two more times this year.
Gold prices fell last week, 0.9 percent, after Federal Reserve Chairman Jerome Powell testified before Congress that boosted the prospect of accelerating US monetary policy tightening and raising interest rates two more times this year.
Gold prices rose Tuesday by 0.30% to $ 1221, after recording a high of $ 1224, and a low of $ 1215 compared to the opening at 1221 dollars.
Looking at silver, it rose 0.50% to $ 15.24, after reaching a high of $ 15.50 and a low of $ 15.30.
Gold closed Friday's gains at 0.5%, after rebounding from a one-and-a-half year low of $ 1204, an ounce recorded earlier in the day.
Time frame Used - four hours Oil is moving in a sideway direction in the near term. Oil is still facing resistance and selling pressure around the 54.54 level despite breaching the 52.50 level to the upside, but it is still moving sideways, indicating that there is still selling pressure on oil. In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators.…
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