Friday , January 22 2021

Gold prices ended at $ 1804.60 an ounce

Arabian Business Egypt Gold prices ended the trading session on Tuesday lower, the metal ended the session at the lowest level since mid-July, as investors turned to risky assets.

The price of futures contracts with gold for delivery in December fell by 1.8%, or $ 33.20, to $ 1804.60 per ounce, the lowest level since mid-July.

Precious metal losses amounted to about 3.6% in two consecutive sessions.

Meanwhile, the dollar index, which measures the performance of the US currency against a basket of six currencies, by more than 0.2%, scored 92,294 points.

The losses in the precious metal occurred in the middle of the gain on the stock exchange, because “Dow Jones” crossed the limit of 30,000 points for the first time in its history amid positive developments related to the potential vaccine against “Corona”.

Yellow metal was also under pressure amid the first signs of the transition to power, as newly elected President Joe Biden received a notification from the Public Service Administration to provide federal funding for the transfer of power, in a move that comes with the approval of President Donald Trump.

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