Gold and Silver’s prices collapsed on the Tuesday’s session settling at $1.227/oz, -1% and $15.61/oz, -1.2% respectively after the strength of US dollar on the Fed chairman Powell testimony.
Gold Stable Amid Oil Prices Edging Higher Gold stabilised today, Tuesday, amid the U.S. dollar holding firm prior to Jerome Powell’s, U.S. Fed Chairman, first testimony. In the New York Mercantile Exchange on the Comex division, gold futures for delivery in August traded to $1,241.00 a troy ounce gaining 0.08%.
Australian Dollar Lower Due To China’s Data Release. Most noteworthy, Australian dollar weakened versus greenback because of China’s recent data release. Also, economy of China expanded in Q2 by 6.7%, as a result performing its weakest rise since 2016. Click here to see more data releases.
Gold Lower as Dollar Extended Gains Gold declined today amid the dollar extending gains compared to the previous trading session. In the New York Mercantile Exchange on the Comex division, gold futures for delivery in August traded to $1,245.40 a troy ounce falling 0.1%.
U.S. Dollar Stable Versus Counterparts The U.S. dollar traded mainly stable today versus its major counterparts having approached close to its 6-month high areas against the Japanese yen. The U.S. Dollar Index approached the 94.76 area rising 0.04%, and the USDCNY aimed to 6.6911 appreciating 0.15%.
U.S. Dollar Higher Versus Counterparts U.S. dollar aimed higher versus its major counterparts today amid minimised gains following the U.S. statement for placing additional tariffs worth $200 billion on Chinese imports. The U.S. Dollar Index traded to 93.94 rising 0.11%. The USDJPY approached the 111.06 stabilising.