Global gold prices are declining marginally


Gold futures fell during the Asian session on Thursday.

According to Comex’s rating of the New York Mercantile Exchange, December gold futures were trading at $1,760.65 an ounce at the time of writing, down 0.07%.

It was traded earlier on the session down 1758.10 dollars an ounce. Gold may find support points at 1745.40 levels and resistance at 1771.50 levels.

The dollar index, which measures the performance of the greenback against a basket of six other major currencies, is down 0.05%, trading at 94.227.

Meanwhile on Comex, silver for December fell 0.31% to trade at $22.602 an ounce while copper for December rose 0.22% to trade at 4.1830 per pound.

Yesterday, gold succeeded in resisting and not declining strongly after the initial positive ADP employment report, and gold and the dollar are awaiting the US employment report due tomorrow, which is a key indicator on which the Fed will decide whether to start tightening or extend the period of its stimulus policies.

Source: Investing

The article Global gold prices are declining marginally was written in Al Borsa newspaper.