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Gold fell as global stocks rallied

2019-03-26 11:16 am | Resource: NEWS | No Views : 144

 
 
Gold traded in Tuesday's session after three sessions of gains, as the recovery of global markets reduced the attractiveness of precious metals as a safe haven.

Wall Street futures rise

Markets in the US were in the green zone during the pre-market market on Wall Street on Tuesday as investors remained wary of the global economic slowdown.

At the level of US-China trade talks, Trade Representative Robert Leitzer and Treasury Secretary Stephen Menuchin will go to Beijing on Thursday to continue negotiations. Yesterday, the US technology giant Apple Inc. held the long-awaited event, where CEO Tim Cook introduced the new Apple TV +.

Fed Harker: Inflation up to 2.2% in 2019

On the other hand, Federal Reserve Chairman Patrick Harker said on Tuesday he expected inflation to reach 2.1% -2.2% in 2019. In his remarks on the economic outlook at the ninth OMFIF economic meeting in Frankfurt, Harker added that he was not in favor of raising the price Interest in December.

Comments in Frankfurt reflect Harker's speech in London yesterday, when the Fed Chairman stressed that the United States maintains positive economic outlook and that the rate hike should be made at most in 2019.
 
  • The Dow Jones Industrial Average rose 0.44% on the market before 11:23 CET  
  • While the Nasdaq 100 was 0.38% in the Green Zone at the same time.
  • The Standard & Poor's 500 Index rose 0.41% at 11:24 CET and Rupa.


 The dollar index, which measures the performance of the greenback versus a basket of six currencies, stabilized at 96.56. The euro was steady against the dollar, trading at 1.1313 at 11:25 Eastern Time.

Gold Trading
 
  • Gold futures for June delivery fell 0.5% to $ 1322.30 an ounce, after yesterday's highest closing since February 26 at $ 1322.6.
  • Spot gold fell 0.41% to $ 1316.52 an ounce at 11:24 CET and Rupa. Central and South Africa.


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