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The decline of the dollar leads to a rise in gold

News Date: 4/10/2022 07:12:28
 

The US dollar fell to its lowest level in two weeks at the beginning of trading on Tuesday, due to the high risk sentiment, while the sterling pound maintained its recent gains after the British government’s policy shift.

The US dollar index fell against a basket of six other major currencies, dropping 0.5% to 111,145.

 

The gold was able to record its highest level in three weeks ;

As gold in the spot contracts rose by 2.5 percent to reach the price of 1707.2 dollars an ounce.

Gold futures rose 0.9 percent to $1,717.6.

 

 Oil gains multiplied during today’s trading, due to expectations about OPEC +, which seeks to reduce oil production.

US NYMEX crude rose by 1%, reaching a price of 84.7 dollars per barrel.

Brent crude also rose by 1%, to reach the price of $90 a barrel.

Crude oil prices rose more than 5% at the end of trading on Monday, with markets anticipating the OPEC + meeting.

 

The Japanese Nikkei index jumped to 3% to achieve its best session in more than six months, with investors turning to leading stocks and growth-related stocks.

 Specifically, the Nikkei rose by 2.96% to reach 26,992.21 points.

While the broader Topix index jumped by 3.21% to reach 1906.89 points

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