Strong dollar weakens gold

A STRONGER US dollar has caused gold to break out of its slim trading range and decline.
Strong dollar weakens gold Strong dollar weakens gold Strong dollar weakens gold Strong dollar weakens gold Strong dollar weakens gold

Staff Reporter

The dollar was stronger as concerns mounted about a spike in Covid-19 cases in the UK and Europe, specifically the highly infectious Delta variant,
 
Gold futures fell as low as $1750.10 an ounce, but rebounded to $1762/oz, the lowest since mid-April. Spot gold was trading at A$2345.65/oz.
 
Silver dipped below US$26/oz after losing more than 1%. Just three of the TSX Composite's 25 gold miners rose overnight, while only one out of six of the silver miners rose.
 
In London, lead hit a three-year high of $2334.50 per tonne after a 3.7% rise. Aluminium was also at a three-year high of $2538/t. Copper slipped for a third straight day to a one-week low of $9312.25/t.
 

topics

loader