Gold closes $8.4 higher on falling dollar

Gold futures closed higher on Friday (Sept. 9), supported by a weakening U.S. dollar from a 20-year high and an appreciation of the euro.

  • The gold futures were up $8.4, or 0.49%, at $1,728.6 per ounce. and rose almost 0.4% this week.
  • Silver futures were up 32.5 cents, or 1.76 percent, at $18.767 an ounce.
  • The platinum contract was up $10.5, or 1.21%, at $876.9 per ounce.
  • The palladium futures were up $30.60, or 1.4%, at $2,177.60 an ounce.

Gold contracts gain buying momentum after the dollar falls. A weakening dollar makes gold contracts less expensive for holders of other currencies.

The dollar index against the six major currencies in a basket of currencies fell 0.64% to 109.0030 on Friday.

Gold market analysts believe that the tendency of the global economy to a recession, and the ongoing war in Ukraine will continue to support gold futures above $ 1,700.

The Spot Market is Closed

Saturday, September 10, 2022

Metals
Updated at
USD
Bid/Ask
Ounce
Change

Low/High
Gold
04.00
1,717.10
1,718.10
+8.20
+0.48%
1,708.90
1,731.00
Silver
04.00
18.83
18.93
+0.31
+1.67%
18.51
19.03
Platinum
04.00
878.00
888.00
-2.00
-0.23%
876.00
903.00
Palladium
04.00
2,107.00
2,257.00
+37.00
+1.79%
2,034.00
2,272.00
Rhodium
04.00
14,200.00
16,200.00
0.00
0.00%
14,200.00
16,200.00

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