Gold loses its luster with the rise of the dollar

Gold prices fell in weak trading on Monday as the dollar rebounded, although it was still hovering near its highest levels in a week, with increased demand for safe havens due to concerns linked to the omicron.
And gold fell in spot transactions 0.1 percent to $ 1806.60 an ounce, but it remained above the $1800 level it recorded last week. And US gold futures fell 0.2 percent to $ 1807.40.
Global stocks stabilized while oil prices fell amid fears that the omicron could cause the economy to slow in the new year.
The dollar index rose from its weakest level in nearly a week, making gold priced in the US currency less attractive to holders of other currencies.
Silver fell one percent to $22.71 an ounce, and platinum fell 1.5 percent to $960.
And palladium fell 0.3 percent to 1943.45 dollars, after touching its highest level since November 23 at 1962.50 dollars.
Japanese stocks closed lower on Monday, with SoftBank Group leading losses, while the negative impact of concerns about the fallout from the mutant Omicron from the Corona virus outweighed the positive impact of gains in technology heavyweights.
The Nikkei index fell 0.37 percent to close at 28,676.46 points, while the broader Topix index fell 0.45 percent to 1977.90 points.
Shares of SoftBank, which specializes in investing in the technology industry around the world, fell 2.96 percent on the back of reports that Credit Suisse sought to obtain information through US courts, which could lead to legal action in Britain against the Japanese company to recover certain funds. The volume of shares traded on the main index of the Tokyo Stock Exchange was 0.78 billion, compared to an average of 1.19 billion over the past 30 days.

Related Articles

Leave a Reply

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker