Gold prices are fluctuating with a tendency to rise and silver recorded losses during trading Wednesday
2018-08-08 12:29 pm | Resource: NEWS | No Views : 121
Gold prices are fluctuating slightly, with a bullish trend, silver recording losses on Wednesday, the US dollar index posting slight gains in European trading, and the outlook for US inflation data tomorrow.
The dollar index rose 0.13% to hit 95.12 points after finishing the correction and taking profit after hitting a three-week high of 95.33 at last week's levels.
Gold prices rose 0.02% to $ 1218 Wednesday, after hitting a high of $ 1222 and a low of $ 1217 compared to opening at $ 1218.
Looking at silver, it fell 0.15% to $ 15.35, after hitting a high of $ 15.47 and a low of $ 15.32.
The gains came in the US dollar in the absence of economic data on Wednesday, and investors are betting on the rise of the US dollar, following US inflation data which will be released later this week.
Last week, we saw data on the labor market in the US, which 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 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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