Gold Spot / U.S. DollarUpdated Gold Surges to Near $2,285/ounce Amidst Weakness in US Dollar
The world spot gold price is on the verge of surpassing $2,285/ounce, rising over 27/ounce compared to the same time yesterday morning.
In the US market, the world spot gold price reached $2,285/ounce, sharply increasing by 29/ounce compared to the previous session's close. During this session, there were moments when the gold price almost reached $2,290/ounce, continuously printing new all-time highs.
Despite positive economic data, the US dollar in the international market continues to decline sharply. Specifically, the Dollar Index - which measures the greenback's strength against 6 major currencies - fell sharply by 0.17% to 104.420 points. The sharp decline in the USD positively supports the increase in gold prices. As the cost of trading and storing gold in investments has decreased, investors are pouring their money into the precious metal.
In the US market, the world spot gold price reached $2,285/ounce, sharply increasing by 29/ounce compared to the previous session's close. During this session, there were moments when the gold price almost reached $2,290/ounce, continuously printing new all-time highs.
Despite positive economic data, the US dollar in the international market continues to decline sharply. Specifically, the Dollar Index - which measures the greenback's strength against 6 major currencies - fell sharply by 0.17% to 104.420 points. The sharp decline in the USD positively supports the increase in gold prices. As the cost of trading and storing gold in investments has decreased, investors are pouring their money into the precious metal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.