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Reuters
Gold is suffering a weekly loss due to the dollar
Gold prices fell during the session today, Friday, and appears to be heading for its first weekly loss in 3 weeks, while the dollar continues to rise.
And gold fell 0.2% in immediate transactions to $ 1,903.24 an ounce at 06:31 GMT, losing 1.4% since earlier this week.
While US gold futures fell 0.1% to $ 1907.50 an ounce.
“There is some additional optimism in the dollar, which is an opposite factor for gold, in addition to ongoing stimulus negotiations (between the White House and Congress) that have not resulted in progress,” said Edward Moya, senior analyst. market of Oanda Consulting.
The expert added: “Everyone agrees that there will be no agreement (on stimulus) before the presidential elections.”
The dollar, considered a safe haven, is on track to post its first weekly gain in three weeks, supported by rising global coronavirus infections, and bets on the US stimulus package have dissipated.
The Covid-19 pandemic sparked unprecedented banknote printing and lower interest rates globally, putting gold on a better overall trajectory in ten years, given its appeal as a hedge against inflation and currency depreciation. coin.
Source: “Reuters”
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