Gold price continues to decline for the second day in a row – Al-Quds

Washington – (dpa) – Gold futures prices continued to decline for the second day in a row, despite the decline in global stock prices on the back of data on the growth of the Chinese economy during the third quarter of this year, which came less than expected.
The dollar also fell against the major currencies after its rise in early trading. The dollar index fell to 93.87 points, after it had recorded 94.17 points in early Asian trading.
The price of gold fell by $2.60, or about 0.2%, to $1,765.70 an ounce for delivery in December.
The price of silver also fell by 0,085 dollars to 23,264 dollars an ounce for delivery in December. The price of copper declined by $0.040 to $4.7255 per pound for December delivery.
This comes as China’s economic growth slowed to 4.9 percent year on year during the third quarter of this year, according to data released by the country’s statistics bureau on Monday.
The third-quarter numbers are the weakest so far this year.
China recorded a record growth of 18.3 percent during the first quarter of the year and 9.7 percent during the second quarter.
The growth rate of the Chinese economy during the three quarters – the period from January to September – combined amounted to 9.8 percent.
China’s economy initially recovered strongly after overcoming the Corona pandemic.
However, economists have recently warned of a whole series of factors that could have a negative impact on the Chinese economy and on foreign companies operating there.

Source

Gold price continues decline day row AlQuds

 
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