Gold returns more than $ 1,200
Investors cut off their relationship with high-risk assets and gold-related futures on Tuesday, prompting a sharp rise in cash and futures markets. Gold, the most traded futures contract, advanced $ 18.90 or 1.6% to $ 1,010.20 an ounce on the COMEX New York Mercantile Exchange.
Silver futures for the same month rose 39 cents, or 2.7%, to $ 14.90 an ounce.
The break-up of gold occurs after months of fluctuating trading conditions for the yellow metal. Since the floor reached $ 1,184.00 an ounce in mid-August, the price of gold has fluctuated between $ 1,187.00 and $ 1,216.00 an ounce.
Much of the downward pressure of the past few months can be attributed to the strength of the US dollar. Commodities such as gold are denominated in US dollars, which makes any increase in the US currency discouraging compared to other monetary campaigns. However, gold and the dollar moved in the same direction on Tuesday. The DXY Dollar Index rose 0.2% to 95.50, its highest level since August 23rd.
Gold seems to be stuck in a rut. Silver too
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