Gold is heading lower again below $1800 an ounce

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Dubai – Bassam Rashid – Forex news today, gold prices fell during trading today, Friday, amid a slight rise in the dollar against most of the major currencies, in addition to the release of positive economic data.

As part of efforts to combat “Corona”, the US Department of Transportation revealed that it will impose a fine of up to $3,000 on each passenger who refuses to wear a face mask.

This comes with increasing fears in the markets of the return of closure restrictions in some major economies due to the outbreak of the coronavirus again, which negatively affects the recovery of the global economy.

This, data revealed that the producer price index in the United States increased by 0.7% during the past month, while expectations indicated a rise by 0.6%.

On the other hand, the dollar index rose – against a basket of major currencies – by 19:47 GMT, by 0.1% to 92.5 points, and recorded the highest level at 92.5 points and the lowest level at 92.3 points.

In terms of trading, the spot contracts for gold decreased by 19:47 GMT by 0.5% to $ 17900.1 an ounce.

Source

Gold heading ounce

 
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