Quotes of gold futures on the London Metal Exchange on Monday fell to less than 1 thousand 200 dollars per troy ounce for the first time in 17 months. On the New York Stock Exchange Comex, December contracts fell 1.2% to 1,204 dollars 20 cents per ounce. Since the beginning of the year, the value of the contract has decreased by 9.4%. The strengthening of the US dollar negates the positive impact of increased demand for gold, which is a protective asset, against the backdrop of geopolitical risks. At the same time, analysts of ICBC Standard Bank expect the gold price to recover to $1,300 per ounce by December 2018.
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The dollar was briefly lifted on Thursday after the U.S. Federal Reserve offered no concrete clues about its next course of action, while investors hoped for an easy policy as the coronavirus resurgence stalled economic recovery. The dollar ...
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The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...