Gold closes with strong dollar amidst uncertainties of epidemic

Gold closes with strong dollar amidst uncertainties of epidemic

The more liquid gold futures contract closed on Tuesday, April 22, under pressure from the dollar to strengthen amid signs of a slowdown in the global economy in view of the recent wave of coronovirus cases.

At Comex, the metal division of the New York Mercantile Exchange, gold for February delivery was down 0.66% to close at $ 1,870.30 per troy ounce.

While the news is still buzzing that the UK has identified a new strain of coronavirus, investors monitor the path of economic activity, the recovery of which threatens the negative growth of the epidemic.

According to the Conference Board, the Consumer Confidence Index in the United States fell from 92.9 in November to 88.6 in December. The result contradicted the forecast of analysts consulted by The Wall Street Journal, who had a high estimate of 97.5.

The weakness of the largest economy on the planet boosted demand for the dollar, which gained more momentum today and recovered part of the recent deficit. With a strong US currency, commodities become more expensive and therefore less attractive. “Now that Congress has budgeted $ 2.3 trillion and a fiscal relief package, Gold will have to wait next year for a new catalyst,” explains Onda analyst Edward Moya.

See also

+ Total solar eclipse: know when and where the event can be seen
+ Step by step: learn how to register and use digital CNH

+ See the best selling cars in October
+ Serious “Cake Boss” accident is the subject of a special report
+ Iwete Sangalo saves a drowning boy: “It was all too fast”
+ Armed robbery attack restaurant north of RJ
+ Woman gets pushed out of bus after spitting on man
+ Caixa replaced stagnation in real estate financing with up to 50% reduction in installment

+ Emergency assistance was denied? Follow 3 steps to fight on dataprev

+ iPhone 12: Apple announced four models starting at US $ 699
+ See the change after the STF decision on IPVA

+ T-Cross gets new PCD version; See Price and Photos
+ MasterChef: contestant washes dishes during 12th episode ‘
+ 10 most economical diesel pickups in Brazil

+ Cook drops Top Chef in third episode and shocks gamblers
Government studies expanding aid by the end of 2020
Insects, pests, epidemics and epidemics in contemporary art
+ Hammerhead shark cuts Michelle Buarez’s foil in Tahiti. Video

READ  The epidemic pushes CIOs towards digital transformation, study says

+ Can there be too many health problems?

Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *