gold bars

Gold Rises Supported by the Dollar Decline

The gold price rose on Monday morning to the highest level in two months. This was driven by the declining dollar, which gave a boost to the yellow metal.

  • Gold futures were up 0.23% to $1,820.95 per ounce.

The dollar, which usually moves inversely to gold, declines in value.

The U.S. dollar index rose 0.1% to 94.308 against the six other currencies in the basket.

  • The dollar weakened against the yen, up 0.2% to 113.65 yen.
  • The dollar strengthened against the euro to 1.1558 euros.
  • The pound was $1.3478 from $1.3425.
  • The Australian dollar is 0.74 Australian dollars.
  • The New Zealand Dollar is 0.7126 New Zealand Dollar.
  • The yuan remained stable at 6.3958 per dollar.

Strong U.S. employment data, with nonfarm payrolls rising by 531,000. In addition, the unemployment rate fell to 4.6% in October.

China’s trade data was released on Sunday and showed that exports rose 27.1% year-on-year in October. Imports rose 20.6% year-on-year. The trade balance is $84.54 billion.

The Spot Market is Open

Monday, November 8, 2021

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
13.30
1,817.10
1,818.10
-0.90
-0.05%
1,812.60
1,821.80
Silver
13.30
24.22
24.32
+0.07
0.29%
24.03
24.40
Platinum
13.30
1,041.00
2,134.00
+9.00
0.87%
1,031.00
1,054.00
Palladium
13.30
1,984.00
2,134.00
+17.00
0.86%
1,967.00
2,141.00
Rhodium
06.00
13,500.00
15,500.00
0.00
0.00%
13,500.00
15,500.00

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