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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