Gold prices fell during trading today, Thursday, amid the dollar’s rise against most of the major currencies, and following the release of positive economic data.
In data released today, the US Commerce Department announced that retail sales rose by 0.7% in August, contrary to expectations for a decline of 0.7%.
And the retail sales index in its core value – excluding the most volatile goods – rose by 1.8%, contrary to expectations for a decrease of 0.1%.
On the contrary, the Bureau of Labor Statistics reported today that the number of initial jobless claims in the United States rose to 332 thousand applications last week, while expectations indicated an increase in the index at 325,000 applications from 312 thousand.
In a separate context, the dollar index (which measures the performance of the currency against a basket of major currencies) rose by 0.4% at 17:19 GMT to 92.9 points, and recorded the highest level at 92.9 points and the lowest level at 92.4 points.
In terms of trading, the spot contracts for gold decreased by 17:20 GMT by 2.2% to $1755.8 an ounce, and the precious metal recorded the highest price at $1797.3 and the lowest price at $1745.5.
These were the details of the news Gold prices fell more than 2% due to the rise of... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
