Gold Futures Reach Their Record High
Gold futures reached their highest level since November uncertainty over the Greece’s debt situation remained strong among investors. Gold futures contract for April delivery gained 0.6 percent or $9.80 to settle at $1,759.30 per ounce on Comex division of the New York Mercantile Exchange. The respective contract touched the intraday high of $1,763.80 per ounce and was moving in a bullish rally for the three consecutive sessions.
In opinion of most analysts the gold is at its overbought level, moreover the most concerning part was that the gold appreciated despite stronger greenback whereas the precious metal is always negatively correlated with the US dollar.
The dollar index DXY which measures the US dollar’s performance versus its six major rival currencies advanced to 78.791 on Thursday as compared to 78.925 on Wednesday’s North American trading session.
Other metals also moved in direction of the gold as the silver’s futures contract for March delivery gained 1.1 percent or $0.37 to settle at $34.16 per ounce. Copper futures for March delivery fell 1.6 percent or $0.06 to $3.78 per pound.
Platinum futures for April delivery surged 0.4 percent or $6.70 to $1,629.90 per ounce while palladium for March delivery gained 1.6 percent or $10.95 to $707.65 per ounce.
Twitter •
Most Popular Content
- Gold Flying and Making New All Time Highs
- Gold Prices Slip Ahead of Anticipated Economic Data
- Oil Prices Surge From Lows Amid Mixed Global Signals
- U.S. Stock Indices: A Dance Between Optimism and Fear
- Gold Prices Dance with CPI Data and the Fed
- Oil Prices Surge Amid Record Demand and Supply Tightening
- Gold Steady As US Dollar Index Tries to Make Gains
- Some Respite for Crude Oil within Bear Trend
Currency Articles - May 22, 2019 15:21 - 0 Comments
The Pound is in Freefall – When Will It Stop?
More In Currency Articles
- GBP Gets Ready for an Unpredictable Day with Meaningful Vote 2
- British Pound Stays Strong Whilst The Dollar Remains Weak
Gold and Oil News - Mar 30, 2024 10:37 - 0 Comments
Gold Flying and Making New All Time Highs
More In Gold and Oil News
- Gold Prices Slip Ahead of Anticipated Economic Data
- Oil Prices Surge From Lows Amid Mixed Global Signals