Gold Prices ( XAU/USD): 9th September 2020
The gold price rose during trading on Wednesday amid the dollar’s decline against most of the major currencies and despite the recovery in the stock market.
Gold’s rally came despite a rebound in the stock market, offsetting part of the gains it lost in the past sessions.
The dollar fell against most of the major currencies during trading today on most trading platforms such as XM.com, Wednesday, in light of investor appetite for stock markets and uncertainty regarding the “AstraZeneca” vaccine.
The British “AstraZeneca” share declined during today’s trading after announcing the suspension of anti-coronavirus vaccine trials, in light of the emergence of serious symptoms from its use.
Gold price rises after Trump’s comments
Recent polls revealed the lead of Democratic candidate for the US presidential elections, “Joe Biden” over his Republican rival, the current President, “Donald Trump.”
Trump stated that he was ready to spend much of his fortune on the election campaign after data revealed that Biden raised more than $ 360 million in donations in August, while Trump raised $ 211 million.
The US President “Trump” had confirmed that his country would obtain an effective and safe vaccine to prevent corona in October, instead of previous statements of receiving it in November.
On the other hand, the dollar index (against a basket of major currencies) fell by 20:10 GMT by 0.2% to 93.2 points and recorded the highest level at 93.6 points and the lowest level at 93.1 points.
In terms of trading, gold futures contracts for December delivery rose by 06%, or $ 11.70, and the precious metal closed at $ 1954.90 an ounce, the highest level since the beginning of September, and the highest price was at $ 1959 and the lowest price was at $ 1926.3.
プロのトレーダー兼アナリスト、2004 年から金融および外国為替市場のエコノミスト。エジプトのアメリカン大学で MBA を取得。モハメッドは、多くの国際外国為替および金融取引会社で経済ライターおよびテクニカルおよびファンダメンタルズアナリストとして、英語とアラビア語の両方で日々働いています。