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[rtl]Editorial date: 2019/7/9 11:37 • 177 times read[/rtl]
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The price of gold fell on Tuesday as the dollar stabilized near its highest level in several weeks as expectations of a major cut in US interest rates narrowed, although stock market declines dampened precious metal losses.
By 0608 GMT, spot gold fell 0.2 percent to $ 1392.64 an ounce.
Gold in US futures fell 0.3 percent to $ 1396.30 an ounce.
"The weakness in gold prices is largely due to lower interest rate expectations and a recovery in bond yields," said Benjamin Lo, analyst at Philip Futures. Markets are still taking into account a 25 basis point cut in interest rates, but sentiment seems to be weakening and the dollar is recovering. "
The dollar index edged near a three-week high on Tuesday, increasing the cost of the yellow metal to holders of other currencies.
But the decline in gold prices was limited by the decline in financial markets, with Asian stocks falling to a two-and-a-half-week low on Tuesday.
For other precious metals, silver gained 0.1 percent to $ 15.04 an ounce.
Palladium fell 0.3 percent to $ 1557.63 and platinum fell 0.3 percent to $ 810.95
http://alforatnews.com/modules/news/article.php?storyid=203014
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Gold prices fall as the dollar rises
[/rtl][rtl]Editorial date: 2019/7/9 11:37 • 177 times read[/rtl]
The price of gold fell on Tuesday as the dollar stabilized near its highest level in several weeks as expectations of a major cut in US interest rates narrowed, although stock market declines dampened precious metal losses.
By 0608 GMT, spot gold fell 0.2 percent to $ 1392.64 an ounce.
Gold in US futures fell 0.3 percent to $ 1396.30 an ounce.
"The weakness in gold prices is largely due to lower interest rate expectations and a recovery in bond yields," said Benjamin Lo, analyst at Philip Futures. Markets are still taking into account a 25 basis point cut in interest rates, but sentiment seems to be weakening and the dollar is recovering. "
The dollar index edged near a three-week high on Tuesday, increasing the cost of the yellow metal to holders of other currencies.
But the decline in gold prices was limited by the decline in financial markets, with Asian stocks falling to a two-and-a-half-week low on Tuesday.
For other precious metals, silver gained 0.1 percent to $ 15.04 an ounce.
Palladium fell 0.3 percent to $ 1557.63 and platinum fell 0.3 percent to $ 810.95
http://alforatnews.com/modules/news/article.php?storyid=203014
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