- Analytics
- News and Tools
- Market News
- Gold price is up on a weaker U.S. dollar
Gold price is up on a weaker U.S. dollar
Gold price rose on a weaker U.S. dollar. The U.S. dollar declines against other currencies due to the mostly weaker-than-expected U.S. economic data. The U.S. Labor Department released its jobless claims figures on Thursday. The number of initial jobless claims in the week ending September 26 in the U.S. rose by 10,000 to 277,000 from 267,000 in the previous week. Analysts had expected the initial jobless claims to increase to 270,000.
Market participants are awaiting the release of the official U.S. labour market data tomorrow. Analysts expect that U.S. unemployment rate is expected to remain unchanged at 5.1% in September. The U.S. economy is expected to add 202,000 jobs in September, after adding 173,000 jobs in August.
The Institute for Supply Management released its manufacturing purchasing managers' index for the U.S. on Thursday. The index declined to 50.2 in September from 51.1 in August, missing expectations for a fall to 50.6. It was the lowest level since May of 2013.
Gold is traded in U.S. dollars. It suffers when the U.S. dollar strengthens, becoming more expensive for holders of other currencies.
December futures for gold on the COMEX today increased to 1118.50 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
