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Gold prices continue to rise as the dollar plunges and futures contracts rise

2019-03-18 12:02 pm | Resource: News | No Views : 69



Gold prices rose on Monday to widen the gains of the previous session and the dollar fell as weak US data on Friday reinforced expectations that the Fed may take a pessimistic stance this week.

US stocks rise higher

Wall Street indexes were mostly higher in pre-market trading on Monday as investors expect the latest decision to raise rates from the Federal Reserve on Wednesday. Policy makers are expected to leave interest rates unchanged, while Federal Reserve Chairman Jerome Powell can provide more details on the central bank's balance sheet.

At the same time, in Europe, eyes are on the United Kingdom, where it is due to leave the European Union within 11 days. However, the British government is still scrambling to get enough votes for the withdrawal agreement. British Foreign Secretary Jeremy Hunt said earlier: "We have to be comfortable because we will get the numbers." The deputies are expected to again decide Prime Minister Teresa Mae's exit from the European Union after being rejected twice.
 
  • The Dow Jones Industrial Average was flat at 12:40 CET.
  • While the Standard & Poor's 500 and NASDAQ 100 rose 0.21% and 0.25%, respectively.

Elsewhere, British Prime Minister Theresa May issued a stern warning to legislators that if she did not support the Brixat deal before the EU leaders' summit on Thursday, she would seek a "short technical extension" beyond March 29 to leave the EU. On Britain's exit from the European Union on Tuesday, unless it felt that it could win that avoids a long delay in the withdrawal from the European Union.

Gold Trading
 
  • Spot gold rose 0.2 per cent to $ 1305.12 an ounce.
  • Gold futures in the US rose 0.15 per cent to $ 1304.85 an ounce.


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