Gold continued to decline for the second day in a row
2018-07-11 12:39 pm | Resource: NEWS | No Views : 125
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 bearish direction in the near term The bears managed to press the oil to drop below level of 70.49 Forming a positive candlestick pattern In view of the technical indicators Both the RSI and the Stochastic are indicating signs of recovery Accordingly, we expect that the oil will break above the 72.21 level to test levels of 72.73…
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