The Magazine for Asian Investors
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 |