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Gold prices fell as the dollar rallied amid the US Independence Day holiday

2019-07-04 10:12 am | Resource: News | No Views : 67

Gold prices fell as the dollar rallied amid the US Independence Day holiday

Gold prices have fallen, but are still above the $ 1400 level as the greenback is stabilized in relatively quiet trading due to a holiday in the US market on Independence Day.

The Dow Jones, the Nasdaq 100 closes at its highest level ever

US markets continued gains in a short trading session ahead of the July 4 holiday on Wednesday as the Dow Jones Industrial Average and Nasdaq 100 closed at their highest level ever. Stocks were boosted by expectations that the Federal Reserve may cut interest rates later this month after worse-than-expected economic data.

Earlier, the US Bureau of Economic Analysis said the US trade deficit rose to 55.5 billion dollars in May amid trade tensions with Mexico and China. At the same time, White House trade adviser Peter Navarro has claimed that markets should "be happy" that trade negotiations between the United States and China "are back on track."
  • The Dow Jones was up 0.67% or 179 points to a record high of 26966. The best performing was Procter & Gamble, which rose 2.33%.
  • The Nasdaq 100 rose 0.74% to an all-time high of 7,857.69 points.
  • The S & P 500 gained 0.77%. Symantec led the gains in both indices, gaining 13.57%.

 The dollar index, which measures the performance of the greenback against a basket of six currencies, stabilized at 96.7 points. The euro fell 0.04% against the dollar to sell against 1.12809 at 8:14 am CET.
The markets are looking ahead to tomorrow's US jobs report - which is expected to show an additional 160,000 jobs in June - to find signs about the future of monetary policy.

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