Al Ittihad Magazine – gold prices stabilize the problems of the British exit


Al Ittihad newspaper

Economic Development

Gold price stability

Gold price stability

On Thursday, gold rose when the dollar fell sharply after the failure of the British exit from the European Union, which exacerbated the impact of limited metal demand from investors seeking to cover political consequences.
At 1057 GMT, the spot price of gold remained unchanged at $ 1,211.21 per ounce. Prices rose by 1% at the previous session.
American gold futures rose 0.1 percent to $ 1,211.60 per ounce.
The dollar index jumped, making gold less attractive to another currency campaign after the British withdrawal agreement from the EU fell.
But some refugee seekers turned to gold, a trade with traditional value in times of political and economic uncertainty, as stock markets are declining.
"We saw some shifts in the British government," said Warren Patterson, an analyst at ING. "Such uncertainty provides a support in the medium term for gold prices.
"Good support will be found at $ 1,200, but we will have problems in the near future with a $ 1,250 violation."
Silver rose 0.1 percent to $ 14.15 per ounce in the week. The metal dropped to its lowest level since January 21, 2016, when it recorded $ 13.85 at its previous session.
Platinum fell 0.6 percent to $ 829.47 per ounce, while palladium rose 0.5 percent to $ 1130.30 per ounce.

Source: Reuters

Al Ittihad Magazine – gold prices stabilize the problems of the British exit Stability-Price-Gold-Out-Trouble-Out-British


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