Gold rises on reaction to weak U.S. dollar

The price of gold rose this morning by $9.20. This was its highest level in almost 2 weeks as the U.S. dollar weakened. The major markets in Asia, Europe and U.S. fell yesterday as global concerns grew. On Tuesday morning, the NIKKEI continued its slide.

Gold rose 0.52% to $1,767 per ounce.

Silver up 0.48% to $22.64 per ounce.

Platinum down 1.23% to $961.6 per ounce.

Palladium down 1.5% to $1,875 per ounce.

The dollar index, which normally moves inversely to gold, fell 0.27% overnight (Oct. 4) to 93.7795, its lowest level since Sept. 29.

In view of the unclear situation on the stock markets and the fear of a market collapse, investors again increasingly sought the safe haven gold.

Attention now turns to the data for non-farm payrolls in the U.S. in September. Experts are awaiting the figures to see how the labor market is developing in the wake of the pandemic recovery. The data can also influence the further monetary policy of the fed.

Meanwhile, demand for physical gold continues to rise. China and in other parts of Asia, gold demand has recently picked up again. Inflation concerns in Europe have led to an increase in gold demand of 35% this year in Germany, for example.

The Spot Market is Open

Tuesday, October 5, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
12.04
1,758.90
1,759.90
-11.00
-0.62%
1,757.30
1,771.40
Silver
12.04
22.42
22.52
-0.25
-1.12%
22.39
22.77
Platinum
12.01
955.00
965.00
-9.00
-0.93%
953.00
975.00
Palladium
11.34
1,820.00
1,970.00
-16.00
-0.87%
1,820.00
1,992.00
Rhodium
05.00
12,350.00
14,350.00
0.00
0.00%
12,350.00
14,350.00
Energy
Updated at

Price

Change

%Change
Crude oil
12.04

77.68

+0.06

0.08%

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