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Gold fell as the dollar rose to its highest level in a week

2019-11-05 10:27 am | Resource: News | No Views : 20

Gold fell as the  dollar rose  to its highest level in a week

Gold prices fell in conjunction with the rise in Wall Street stocks in the pre-Tuesday market as the prospects for an agreement between the United States and China improved as the US dollar neared its highest level in about a week

Rising futures markets in the US rise ahead of the progress of trade talks

Wall Street indices continued to grow in November and lifted the wheel again after Monday's record-breaking session. US Commerce Secretary Wilbur Ross shared "reasonable optimism" regarding the signing of the first phase of the agreement, which could open the door to a "strong set of deals" between the world's two largest economies.

Investors are watching trade developments between the world's two largest economies. Newspaper reports said yesterday that Washington and Beijing had shown signs of progress in trade talks and that the United States was considering abolishing some tariffs on Chinese goods. Beijing is reportedly seeking to eliminate some US tariffs to pave the way for an eventual $ 50 billion Chinese investment in US agricultural goods.

Meanwhile, Uber Technologies published third-quarter results that exceeded expectations.
  • The Dow Jones Industrial Average rose 0.22% at 4:32 pm ET.
  • The Nasdaq 100 and the S&P 500 gained 0.32% and 0.24% at the same time, respectively.


The Dollar Index, which tracks the performance of the greenback versus a basket of six major currencies, was steady at 97.554 points, near its highest level in a week as the euro traded steadily against the dollar, trading at 1.11310 at 10:32 am in Central Europe.

Gold trading
  • December gold futures fell 0.3%, or $ 4.60, to $ 1506.50 an ounce by 10:15 am CET.
  • The spot price of yellow metal fell 0.2% at $ 1507.09 an ounce by 10:15 am CET


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