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Gold is heading towards the best monthly gain in two years

2018-12-31 10:54 am | Resource: News | No Views : 326

Precious metal prices rose in December as the dollar weakened as global stock markets plummeted and concerns about slowing world growth headed for the best monthly gain in almost two years, but it will record its first annual loss since 2015.

Gold rose for immediate delivery on Monday near its highest level in six months as the yellow metal continued to be a safe haven,

Shares in the United Kingdom traded mixed on Monday and France's CAC 40 rose, and investors pushed New York-listed stocks sharply higher in long-term trading.

Recently, US indices have seen violent fluctuations in both directions, indicating that volatility has returned on a lasting basis.

US Futures Contracts
  • The Dow Jones Industrial Average was up 0.89% at 10:50 CET, indicating a 200-point gain.
  • And compares by 0.88% and 0.74% in gains of NASDAQ 100 and S & P 500 respectively.

Dollar and Currencies Index Trading
  •  The dollar index rose marginally by 0.1% at 96.48.
  • The dollar steadied against the euro at 12 pm CET, where the pair traded at $ 1.14419.
  • Meanwhile, the British Pound was up against the US Dollar, with 0.35% to hit 1.2743.
  • The dollar fell against the yen, which rose as a safe haven by 0.08% to 110.1185.

Gold Trades
  •  Gold futures for February delivery fell 0.1% to $ 1281.70 an ounce at 8:54 am CET.
  • While the price of gold for immediate delivery rose 0.14% at 1280.07 dollars an ounce, after rising Friday to 1282.23 dollars, the highest since June, to reach its gains in December to 4.8%.

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