empty
 
 

2020.02.1110:32:00UTC+00Gold Eases From One-week High As Dollar Rises

Gold prices fell slightly from a near one-week high hit in the previous session on Tuesday as the dollar climbed to a four-month high against its rivals ahead of a testimony from Federal Reserve Chairman Jerome Powell.

Investors also watched the latest developments in the coronavirus outbreak, as the death toll in mainland China climbed above 1,000.

As of Monday night, China's National Health Commission reported that a total of 42,638 cases had been confirmed, with 1,016 deaths.

Spot gold edged down 0.2 percent to $1,568.58 per ounce, after having touched its highest level since Feb. 4 at $1,576.76 on Monday. U.S. gold futures were down half a percent at $1,572.05.

Later today, the focus of attention will be on the testimony by Powell before the House Financial Services Panel.

He is likely to sound fairly upbeat about the outlook for U.S. economic growth and will face pointed questions from lawmakers related to the impact of the spreading coronavirus.

Powell will face the Senate Banking Committees Wednesday.

  • 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 $1000 more!
    In April we raffle $1000 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