Login ID:
Password:
Partner Login
Contact Us : 7066511911

Comex Gold Rises as Weaker Dollar, Recovery Fears Lift Demand

13 Aug 2020 8:01 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) - Gold prices rose on Thursday, holding firm above the key $1900 per ounce level, as a weaker U.S. dollar and concerns over the global economic recovery from the mounting COVID-19 cases boosted demand for the safe-haven metal.

Spot gold was up 0.7% at $1,930.78 per ounce by 0034 GMT. U.S. gold futures eased 0.5% to $1,940.

The dollar index fell 0.2% against its rivals, making gold less expensive for holders of other currencies.

Benchmark 10-year Treasury yields dipped from one-month highs, reducing the opportunity cost of holding non-interest bearing gold.

The U.S. economic recovery will be slow until the coronavirus is under control, and Americans will have to manage life with the virus for at least the next several months, three Federal Reserve policymakers said on Wednesday.

More than 20.45 million people have been reported to be infected by the coronavirus globally and 743,229​ have died.

White House and top Democrats in Congress may not be able to reach a deal on coronavirus aid, with the stalemate blocking relief to tens of millions of Americans, U.S. Treasury Secretary Steven Mnuchin said.

U.S. consumer prices rose more than expected in July, with a measure of underlying inflation increasing by the most in 29-1/2 years amid broad gains in the costs of goods and services.

(Commodities Control Bureau)





       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Precious Metals Gold (COMEX) Testing Range Support ...
Precious Metals Silver (Dec 20) Key Support at $25...
Comex Gold Inches higher on U.S.- China Tensions, Recov...
Precious Metals Silver (Dec 20) Key Support at $25...
Precious Metals Gold (COMEX) Testing Range Support ...
more
Top 5 News
Chana/Chana Dal Extend Gains in Major Spot Markets
Upward Rally Continues In Tur At Major Mkts
Weak global cues, physical demand arrest uptrend in soy...
New, Old Moong Gains For Second Straight Day In Selecti...
Jeera: Spot Prices Rise Despite Increased Arrivals; Fut...
Top 5 Special Reports
USD/INR (Sep 20) Needs a Breakout Above Resistance a...
India Kharif Production Set to Increase 9.83 M Tonnes
USD/INR (Sep 20) Needs to Surpass Resistance at 74.2...
Weekly: Tur-Urad Posts Strong Gains, While Masoor-White...
USD/INR (Sep 20) Needs to Surpass Resistance at 74.2...
Copyright © CC Commodity Info Services LLP. All rights reserved.