Gold price falls by almost 1%
17.02.2023 12:30
Gold prices fell by almost 1% on Friday morning.
The price of April futures for gold on the New York Comex exchange fell by $16.75, or 0.9%, to $1,835.05 per troy ounce. March silver futures fell 1.34% to $21.418 an ounce.
The latest macro data from the US, such as data on retail sales, unemployment, and inflation, supported expectations that the Fed can keep banking rates in the economy at a high level for a longer time than previously predicted.
Thus, the euro rate against the US dollar is already falling to $1.0638 from the previous close of $1.0668, and the dollar against the yen is rising to 134.79 yen from 133.94 yen. And the dollar index (the exchange rate against a basket of currencies of six US trading partners) jumped by 0.47% to 104.34 points.
www.anews.az
The price of April futures for gold on the New York Comex exchange fell by $16.75, or 0.9%, to $1,835.05 per troy ounce. March silver futures fell 1.34% to $21.418 an ounce.
Gold is sensitive to macro statistics, primarily from the US and monetary policy in the country. The tightening of this policy leads to the strengthening of the dollar, which is negative for commodities, including gold, and the value of competing "safe" assets, to which the precious metal also belongs.
Thus, the euro rate against the US dollar is already falling to $1.0638 from the previous close of $1.0668, and the dollar against the yen is rising to 134.79 yen from 133.94 yen. And the dollar index (the exchange rate against a basket of currencies of six US trading partners) jumped by 0.47% to 104.34 points.
www.anews.az
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