The dollar strengthens and pushes down the price of gold

Gold closed lower last night (September 17) for the third day in a row, this week gold contracts were 2.3% lower. This is the lowest level since August 10.

Gold futures fell 0.3% or $5.3 to close at $1,7142/ounce.

Silver futures fell 2% or 45.7 cents to close at $22.337/ounce.

Platinum contracts rose 0.79% or $7.3 to close at $930.6/ounce.

Palladium contracts fell 1.9% or $37.70 to close at $1,983.80/ounce.

The strengthening dollar pushes the gold price down as gold becomes more expensive for holders of other currencies.

The movement index of the dollar against the six major currencies in the basket increased by 0.28% to 93.1881.

While investors are waiting for the signal on interest rate policy and the much-discussed tapering, gold is likely to weaken in the short term. More information on this topic will be announced at the Fed’s monetary policy meeting on September 21 and 22.

The U.S. consumer confidence index rose to 71% in September from 70.3% in August.

The Spot Market is Closed

Saturday, September 18, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
04.00
1,753.80
1,754.80
+0.10
0.01%
1,747.10
1,768.40
Silver
04.00
22.36
22.46
-0.51
-2.23%
22.30
23.22
Platinum
04.00
934.00
944.00
+8.00
0.86%
925.00
961.00
Palladium
04.00
1,950.00
2,100.00
-14.00
-0.71%
1,907.00
2,135.00
Rhodium
04.00
11,900.00
13,900.00
+700.00
6.25%
11,200.00
14,200.00
Energy
Updated at

Price

Change

%Change
Crude oil
09.10

71.96

-0.65

-0.90%

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