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Gold prices fell earlier on Tuesday in Asia as the Dollar strengthened, pulling traction away from the yellow metal.
Gold futures fell by 0.85% to $1,798.65 per ounce at 1:12 AM ET (6:12 AM GMT), still remaining above the $1,800 level.
Losses were limited as new outbreaks continued to be reported across the world. As of July 14, global COVID-19 infections have reached over 13 million, according to data from the Johns Hopkins University.
In the U.S., California announced that it would roll back its reopening plans as new cases continued to grow in the state, dampening hopes of a quick economic recovery.
Meanwhile, simmering U.S.-China tensions also limited losses, after U.S. Secretary of State Michael Pompeo on Monday said that China’s claims to offshore resources throughout the South China Sea were unlawful.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
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 ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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