some analysts argue that gold is still facing pressure
ni was caused because On Tuesday local time the US dollar index declined to make the price of gold in futures contracts in the COMEX division of New York Mercantile Exchange to rise Well, according to Xinhua news agency broadcast. In the most-active gold contract for August delivery, the precious metals prices rose 11.80 dollars or 0.95 percent to close at 1,253.50 dollars an ounce. The upside of rising gold prices from the lowest settlement rate since December is due to the pause of US dollar rate increase. And the US Dollar Index, a measure of the greenback against a basket of other major currencies, fell 0.18 percent to 94.70 as of 16:37 GMT. The moment when the US dollar falls usually gold futures will rise, the article because precious metals are priced in US dollars becomes cheaper for investors who use other currencies.
The Dow Jones Industrial Average had lost 76.75 points, or 0.32%, to 24,230.43 points as of 16:47 GMT. The decline in equity markets has added support for gold. However, some analysts argue that gold is still facing pressure as the US dollar will probably continue to gain momentum against its rival currencies
We will look forward, prepare the relevant policy, and comprehensively use all kinds of monetary policy tools, "Yi said. Stock market turmoil "largely fueled by sentiment," he said, adding that China has room to deal with all kinds of trade friction Meanwhile, the US Dollar Index, which measures the strength of the greenback against a basket of currencies, rose 0.11% to 94.75
The US is considering declaring Chinese investment in US technology companies as a threat to economic and national security, according to a report on Monday quoted by eight people familiar with the plan.
The report further noted US Treasury Secretary Steven Mnuchin will suggest legal administration in a report scheduled for release on June 29. On Friday (22/6), US President Donald Trump threatened to impose a 20% tariff on all US imports from the EU-assembled car, increasing trade tensions with Europe.
In response, a senior European Commission official said the EU would respond to any US move to raise tariffs for cars made on the block.
Meanwhile, the US Dollar Index, which measures the strength of the greenback against a basket of six major currencies, fell in morning trade and traded at 94.4960. The US dollar has strengthened since April but the looming trade war began to create anxiety in the market.
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