Monday , October 18 2021

Urgent. Gold jumps when the dollar falls


Gold prices rose by as much as 1% when the dollar fell, after Federal Reserve officials made careful comments on interest rate expectations and palladium hit record high, driven by fear of supply shortages.

Spot gold jumped to $ 1225.29 an ounce, the highest level since November 8th before its winnings were reduced to 0.7% at $ 1221.71 per ounce late in the session.

The yellow metal finishes the week, up more than 1% and the best performance in 5 weeks.

US gold contracts increased by $ 8, or 0.7%, to settle at $ 1223 per ounce.

Among other precious metals, palladium jumped 1.7% to $ 1176.20 per ounce that ended the week with profits of more than 5%.

Earlier in the session, the metal hit a record height of $ 11855.40 per ounce, approaching the level of yellow equivalent for the first time in 16 years.

Silver rose 0.9% to $ 14.41 per ounce, which ends the week with profits over 1%.

Platinum rose 0.5% to $ 844.90 per ounce but ended the week slightly lower.

Source link