Thursday, 24 Jan 2019

Gold price remained stable despite a rise in the dollar index


IllustrationIllustration - Gold price was still stable amid rising the dollar index. The dollar index which reflects the US dollar exchange rate against major world currencies soared to 93.12 on Tuesday to today. But, in two days this index continued to fall despite holding above the level of 93.

The market forecast, the Bank of England will hold interest rates at today's meeting. British economic data still weak. BoE's governor Mark Carney had earlier shown a more cautious signal in taking decision.

Within a week, the price of gold moved steadily despite sanctions over Iran's nuclear program by the United States (US).

Monitored on Thursday, May 10th 2018, afternoon, gold price for June 2018 delivery on the Commodity Exchange edged up to USD 1,313.40 per ounce troi from yesterday's close of USD 1,313 per ounce troi.

In this week, the price of gold moves between USD 1,313 - 1,314 per troy ounce. The price of gold edged down 0.40% compared to the end of last year, and 1.63% lower than the average gold price this year at USD 1,335.18 per troy ounce.

On the other hand, investors also do not expect much change in interest rates in the European region until next year.


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