Gold prices today … a new jump after the dollar fell...

Gold prices today … a new jump after the dollar fell...
Gold prices today … a new jump after the dollar fell...
Gold rose 1%, at the end of trading Wednesday, recovering after a sharp decline in the previous session, following the decline of the dollar and due to the uncertainty surrounding the US elections and the recovery of the global economy, which strengthened the attractiveness of the metal as a safe haven.

By 13:54 GMT, the spot price of gold rose 1% to $ 1910.06 an ounce.

US gold futures rose 1.1% to $ 1914.70.

“The dollar index is low today, yields are retreating, which supports gold, and we also notice some buying driven by technical factors, probably because yesterday’s correction was somewhat exaggerated,” said Bart Melick, director of commodity strategies at TD Securities.

The dollar fell

The dollar fell against major currencies, as well as the benchmark 10-year bond yield.

Gold was down by up to 1.9% on Tuesday after the rise of the dollar, taking advantage of the lack of progress on the level of new US economic stimulus measures.

In other precious metals, silver rose 1.5% to $ 24.52 an ounce.

Platinum advanced 0.2%, recording $ 866.59, while palladium rose 1.7% to $ 2,355.13 an ounce.

The administration is trying hard to persuade the Democratic-controlled US Congress to approve a stimulus package worth $ 1.8 trillion, instead of the $ 1.5 trillion the White House had announced before.

US President Donald Trump confirmed that the upcoming presidential elections scheduled for November will be the most important in the country’s history.

He said during an election rally in Pennsylvania on Tuesday: “I fight to eliminate Corona and confront the extreme left. I have recovered from Corona and the doctors described me as” Superman. ”

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