Gold continued to decline for the second day in a row
2018-07-11 12:39 pm | Resource: NEWS | No Views : 157
Gold continued to decline for the second day in a row, despite rising tensions over the US trade war, as well as the US dollar index.
Where the dollar index rose Wednesday by 0.3%, to rise for the third day in a row, reflecting the continued buying of the US currency against a basket of major currencies.
Trade tensions between the United States and China have escalated after the Trump administration threatened to impose 10 percent customs duties on Chinese goods worth 200 billion dollars.
Markets are eyeing US producer prices on Wednesday, a leading indicator of consumer prices, the main gauge of US inflation.
Last week, US data on monthly jobs, which rose in the US more than expected in June, were released, according to a report released by the Labor Department on Friday.
Non-farm jobs jumped 213,000 jobs in June after rising 244,000 jobs in May, the report said
Gold prices fell Wednesday by 0.48% to $ 1249, after hitting a high of $ 1257 and a low of $ 1248 compared to the opening at $ 1255.
Looking at silver, it lost 0.85% to $ 15.95, after hitting a high of $ 16.10 and a low of $ 15.91.
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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