Gold's uptrend 'remains intact' despite stronger dollar and record-setting stocks
Tuesday, 16 July 2019 19:02 WIB |
PRECIOUS METALS |GOLDEMAS Spot EmasSILVER
Gold futures rose slightly Tuesday, extending a climb above a two-week peak for bullion as U.S. stocks traded near all-time highs on the session.
August gold trading on Comex added $1.80, or about 0.1%, to $1,415.40 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver meanwhile, picked up 5 cents, or 0.4%, to $15.42 an ounce.
Gains for precious metals come even as the dollar strengthened modestly, advancing 0.3%, as gauged by the ICE U.S. Dollar Index A stronger dollar tens to be a negative for commodities priced in the unit, making them relatively more expensive to users of other currencies.
Source : MarketWatch