InvestorGreg
News
Gold Continues to Fall in Price on the USD Strengthening

Gold Continues to Fall in Price on the USD Strengthening

Published by InvestorGreg Editorial Team

February 11th, 2019

The price of gold falls on Friday in the morning; this trend lasts for six trading sessions in a row against the background of the continuing the USD strengthening against most world currencies, according to the data of trades and analysts’ comments.

As of 08:03 Moscow time, the price of the April gold futures Comex on the New York Stock Exchange fell down by 1.15 USD, or 0.09%, to 1,313.05 USD per troy ounce. The price of the March silver futures decreased at the same time by 0.26%, to 15.67 USD per ounce.

The dollar exchange rate continues to exert downward pressure on the gold value. The dollar index (the dollar exchange rate to the basket of currencies of six countries - the main US trading partners) strengthened by 0.05%, to 96.56 points, while the growth was also observed for the sixth trading session in a row and reached 1% from the beginning of February.

At the same time, the demand for gold as a more reliable asset is supported by news around the US and Chinese trade. So, US President, Donald Trump, said that his meeting with China’s President Xi Jinping, on which concluding a trade agreement was planned, has not yet been scheduled. Thus, the President did not confirm reports in the Chinese media that such a meeting could take place at the end of February in Vietnam.

About the author

InvestorGreg Editorial Team

The InvestorGreg Editorial Team is a group of financial writers and analysts who cover the worlds of finance and investment. Read more

Recommended Financial Products

Fidelity

A household name, Fidelity has always been known to be a reputable investment firm. In our Fidelity Broker Review, we will examine some of the pros and cons of this broker as well as the fees charged by the broker.

Fidelity Review

Charles Schwab

Charles Schwab has been one of the leading full-service brokers for decades. They have more than $3 trillion in client assets and there are more than 10.5 million active brokerage accounts.

Charles Schwab Review

E*TRADE

ETrade is a broker that has long been at the forefront of online trading. They made their first online trade in 1982. Let’s take a look at the broker offering and see if they are right for you.

E*TRADE Review

Vanguard

Vanguard Brokerage, an excellent choice of broker for low cost longterm investment. The broker offers the lowest expense ratio for index funds and ETF's.

Vanguard Review

Full list of recommended

Suggested For You

Hyundai Motor Net Profit for 2018 Decreased Almost 3 Times JAN 26, 2019 The net profit of Hyundai Motor, a South Korean automobile manufacturer, in 2018 decreased by 2.8 times compared with 2017 – to 1.65 trillion KRW (1.5 billion USD), follows from the Company’s report.

S&P 500 and Nasdaq Was Up, and Dow Declined Due to Concern About Trade JAN 29, 2019 The S&P 500 and Nasdaq indexes closed Thursday’s trade in the positive territory, while the Dow slightly declined, as continuing concerns about a slowdown in the global economy and trade contradictions between the US and China have negated optimism about companies’ reports.

US Stock Indexes Showed the Worst Year Start for 18 Last Years JAN 9, 2019 The beginning of the year was not easy for the US stock markets – Dow Jones and S&P 500 showed the worst start for almost two decades. A sharp decrease in the price of Apple shares had significant impact on the fall of the indexes.

Apple Is No Longer the Most Expensive Company in the World JAN 11, 2019 On August 1, 2018, Apple published a financial report that turned out to be better than analysts had predicted, and the Company had risen in price to a trillion dollars for the first time in its history.

The British Pound Reached a Peak for 11 Weeks JAN 28, 2019 The British pound reached a peak of 11 weeks on Friday after The Sun reported that the Democratic Unionist Party of Northern Ireland decided to support the Brexit plan proposed by Theresa May next week.