- Analytics
- News and Tools
- Market News
- Gold price traded lower as the U.S. dollar strengthened and stocks rose
Gold price traded lower as the U.S. dollar strengthened and stocks rose
Gold price traded lower as the U.S. dollar strengthened and stocks rose on hopes for a deal between Athens and its creditors. The head of the Eurogroup Jeroen Dijsselbloem said after the Eurogroup's meeting on Monday that a deal between Greece and its creditors could be reached this week.
"I am convinced that we will find an agreement this week. It's vital"." the EU's Economic and Financial Affairs Commissioner Pierre Moscovici said last night.
The U.S. dollar strengthened despite the weaker-than-expected U.S. durable goods orders data. The U.S. durable goods orders dropped 1.8% in May, missing expectations for a 0.5% decrease, after a 1.5% decline in April. April's figure was revised down from a 0.5% fall.
The decline was partly driven by lower orders for aircraft. Orders for nondefense aircraft dropped 35.3.0% in May.
The U.S. durable goods orders excluding transportation rose 0.5% in May, missing expectations for a 0.6% gain, after a 0.3% decrease in April.
Gold price found some support from a 3.5 tonne rise in SPDR Gold Shares. But physical gold demand in Asia remained soft.
June futures for gold on the COMEX today fell to 1175.70 dollars per ounce.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
