empty
 
 

2020.09.2818:42:00UTC+00Gold Futures Settle Notably Higher As Dollar Weakens

Gold prices moved higher on Monday as the dollar weakened against most of its peers.

The dollar index slipped to 94.15 in the European session, and despite moving past 94.40 subsequently, faltered again and was last seen at 94.25, down more than 0.4% from previous close.

Data showing strong industrial profits in China dimmed dollar's safe-haven appeal.

Profits of China's industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, official data showed on Sunday.

Gold futures for December ended up $16.00 or about 0.9% at $1,882.30 an ounce, rallying from an early low of $1,851.10 an ounce.

Silver futures for December closed higher by $0.511 at $23.604 an ounce, while Copper futures for December settled at $2.9900 per pound, gaining $0.0190.

Investors were looking ahead to upcoming economic data and the first presidential election debate between U.S. President Donald Trump and his Democratic rival Joe Biden for directional cues.

On the stimulus front, U.S. House Speaker Nancy Pelosi has expressed optimism Sunday that she hopes to find common ground for agreement with Treasury Secretary Stephen Mnuchin.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback