In a new high record, the price of gold is negotiated Tuesday, with the possibility of Shutdown in the US being the most important factor in the rise.
Gold negotiates at $ 3,864 with a rose 0.97%.
The US dollar index fell 0.2%, making gold priced in dollars less expensive for buyers outside the US, the Reuters news agency notes.
“Demand for safe shelters, which focused on the possible shutdown of the US government” is one of the factors that led to the rise of gold, said David Meger, a metal manager at High Ridge Futures.
“The dollar is under slight pressure as a reaction to it, which certainly supports the precious metal sector,” he added.
US President Donald Trump has planned to meet with leading Congress MPs from both parties later on Monday to negotiate the extension of government funding. Without agreement, the federal shutdown will begin on Wednesday.
Meanwhile, the Russian Ministry of Defense has announced that its forces had taken control of the Shandryholove village in Donetsk, Ukraine.
Gold, which tends to have good performance in low interest rates and periods of uncertainty, has increased more than 43% so far this year.
The US Personal Consumer Price Index (PCE) was in line with expectations on Friday, enhancing market confidence in possible interest rates cuts by the US Federal Bank at its meetings in October and December.
“PCE data since last week were thought to prevent one or two additional interest rates from the Fed … continue to be a supportive factor for gold and silver,” Meger said.
Meanwhile, the price of silver rose 1.9% to $ 46.85 per ounce, reaching the highest level of the last 14 years. The price of platinum rose 1.5% to $ 1,592.65, the highest level of the last 12 years.
Source: Skai
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