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Offbeat Gold price: weaker before the weekend

09:41  14 august  2020
09:41  14 august  2020 Source:   finanzen.net

Dax gains - investors are back on

 Dax gains - investors are back on © Fredrik von Erichsen / dpa The Dax is the most important stock index in Germany. Investors in the German stock market are back on the floor on Wednesday. On a day with figures from many companies that tended to bring positive news, the Dax more than made up for the previous day's losses. He expanded his profits by rising 1.00 percent to 12,727.47 points towards the end of the first hour of trading. The MDax rose by 1.09 percent to 26,850.20 points.

A weaker dollar makes gold cheaper for holders of other currencies and often lifts bullion demand. The metal is also generally seen as a hedge against But some analysts said the market might gather upward momentum next week . “The 0-mark has proved a hard nut to convincingly crack in the

A weaker dollar makes gold cheaper for holders of other currencies and often lifts bullion demand. The metal is also generally seen as a hedge against But some analysts said the market might gather upward momentum next week . “The 0-mark has proved a hard nut to convincingly crack in the

The gold price seems to have weathered the sell-off in the first half of the week. The $ 1,900 mark is not currently at risk.

Thomas Lohnes/Getty Images © Provided by Finanz.net Thomas Lohnes / Getty Images

by Jörg Bernhard

The dollar is trending downhill again, which increases the attractiveness of gold. Important US economic indicators are due to be announced in the afternoon. In addition to the current July figures for US retail trade (2:30 p.m.) and US industrial production (3:15 p.m.), market players also learn how the consumer confidence index (4:00 p.m.) determined by the University of Michigan has developed. According to a survey of analysts published by Trading Economics, the buying mood is said to have fallen from 72.2 to 71.1 points compared to the previous month. The world's largest gold ETF SPDR Gold Shares, however, registered a marked buying mood. The amount of gold it held increased slightly yesterday, Thursday, from 1,250.63 to 1,252.09 tons.

Gold price: on a recovery course at the start of the week

 Gold price: on a recovery course at the start of the week The drop in the oil price that was observed before the weekend did not continue in early Monday trading. © Provided by Finanz.net GmbH INDRANIL MUKHERJEE / AFP / Getty Images by Jörg Bernhard As before, investors are mainly concerned about the high number of new corona infections and the tensions between China and the USA. US President Trump on Friday banned doing business with the Chinese owners of Tik Tok and WeChat by decree.

GoldPrice . . View Historical Gold Prices at the No. 1 Gold Price Site. Looking at the big picture, gold trended higher for many years before making all-time highs in 2011 of nearly 00 per ounce. A weaker dollar makes gold relatively less expensive for foreign buyers, and thus may lift prices .

Live gold price chart, news and analysis. Gold has been considered a highly valuable commodity for millennia and the gold price is widely followed in financial markets around the world. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.

On Friday morning, the gold price presented itself with falling prices. By around 7.15 a.m. (CEST), the most actively traded future on gold (December) decreased by $ 8.40 to $ 1,962.00 per troy ounce.

Crude Oil: Chance of Second Weekly Profit

The oil price is well on the way to achieving the second weekly plus in a row. The US variety WTI has risen by 2.8 percent on a weekly basis, while the North Sea brand Brent is 1.6 percent more expensive. In the oil markets, after the relatively positive EIA weekly report, players are hoping for a sustained recovery in demand. In the evening, they should be very interested in the update from the US oil service company Baker Hughes on North American drilling activities. Depending on the tenor, this could also have an impact on the trading trend for the coming week.

On Friday morning the oil price presented itself with held quotations. Until around 7.15 a.m. (CEST), the next due WTI future rose by 0.13 to 42.37 dollars, while its Brent counterpart rose by 0.14 to 45.10 dollars.

gold price will continue to rise due to inflation: SkyBridge .
(Bloomberg) - Gold will continue its record rally in view of “massive inflation” and the expectation of further economic stimuli, SkyBridge Capital expects. The investment firm recently increased its exposure to the precious metal after exiting in 2011. "With a devaluation in view, the question is what the dollar is weakening against, and looking around the globe it's hard to get excited about alternative currencies," said Troy Gayeski, co-chief investment officer and Senior Portfolio Manager.

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