High gold prices with the decline in the US dollar index for a fourth straight session

High gold prices with the decline in the US dollar index for a fourth straight session


Gold prices rose during the American session amid falling US Dollar Index for a fourth straight session and according to the inverse relationship between them following the developments and economic data that Tbanha Friday for the largest economy in the world the US economy, which showed the breadth of New York manufacturing index in May, below expectations in addition to the reduced decline in industrial production In April / May, before seeing a decline in the University of Michigan index of consumer confidence be exceeded expectations, according to preliminary reading for the month of May .

Promptly at 8:48 pm GMT, futures for gold delivery June 15 to 1,224.79 $ per ounce compared with the opening levels rose at 1,221.25 $ an ounce after that achieved the highest level at 1,226.15 $ per ounce and lower it during the day’s trading at 1,210.98 $ an ounce.

On the other level, the US dollar index showed today in front of six major currencies, especially the euro, which weighs more than half of the index as well as the Swiss franc, Japanese yen, pound sterling, krone Swedish, Canadian dollar declined to currently trade at 93.26 levels compared Balavtaatahih at 93.45 after recording its lowest level during the trading session at 93.17, while achieved its highest at 94.08.

This has followed the US economy on Friday issued read the New York Industrial Average index with a value of 3.1 compared to a contraction in the amount of 1.2 in April / May, below expectations when the value of 5.1, as read industrial production showed shrinking back down to 0.3% vs. 0.6%, as opposed to expectations at rising by 0.1%, while the preliminary reading of the index of the University of Michigan consumer confidence showed a decline to the value of 88.6 against the value of 95.9 below expectations at the value of 95.8 amid weak economic conditions and expectations about what it was in April / May last high expectations about inflation to one year to the proportion of 3.3 % versus 3.1% in conjunction with low inflation expectations for the five-year rate of 2.8% vs. 2.9%.

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