Gold prices rise, dollar expected to weaken

Gold futures closed higher last night (August 23). Gold prices rose $108.60 to $2,385.10/ounce or 4.8%.

Silver futures rose 54.4 cents to $23.656/ounce or 2.35%.

The platinum contract rose $19.9, or 2%, to $1,014.1/ounce.

Palladium futures rose $108.60 to $2,385.10 per ounce, or 4.8%.

The dollar fell 0.58% last night to 92.9582, a factor supporting the gold contract as oil and gold contracts trade in dollars. A weak dollar makes gold and crude oil contracts more attractive to holders of other currencies.

At the same time, investors predicted that the Fed will still postpone tapering. Due to the slowdown in the service sector in U.S. manufacturing. In particular, the outbreak of the delta variant could hinder the economic recovery.

In addition, investors continue to look at the Fed’s annual meeting. This will be held on August 26-28 in Jackson Hole, Wyoming, and will throw up answers about the direction of interest rates and QE tapering.

The Spot Market is Open

Wednesday.25 Aug-2021

Metals

Updated at
USD

Bid/Ask
Ounce

Change


Low/High
Gold
06.00
1,802.10
1,803.10
-0.90
-0.05%
1,802.00
1,804.00
Silver
06.00
23.83
23.93
-0.03
0.13%
23.83
23.96
Platinum
06.00
1,007.00
1,017.00
-1.00
-0.10%
1,007.00
1,018.00
Palladium
06.00
2,398.00
2,548.00
-4.00
-0.17%
2,395.00
2,556.00
Rhodium
05.00
15,800.00
17,800.00
0.00
0.00%
15,800.00
17,800.00
Energy

Updated at


Price


Change


%Change
Crude Oil
06.00

67.60

+0.06

0.09%

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