The U.S dollar index keeps falling
On Tuesday (August 18), the US dollar index continued its downward trend, hitting a weekly low of 92.63. The U.S. dollar was under selling pressure due to factors such as the fall in U.S. bond yields, weak U.S. economic data and cooling demand for safe-haven. Spot gold continued its gains in intraday trading and is currently approaching the 2000 mark. As real interest rates remain below zero, governments of various countries have adopted easing measures to reduce the economic losses caused by the epidemic, and major institutions generally believe that gold is expected to rise further.
The U.S dollar continues to weaken, helping gold push
The price of gold rose by more than 2% on Monday, as a weaker U.S. dollar, a fall in U.S. Treasury yields, and Buffett’s Berkshire Hathaway’s purchase of shares in major gold mining companies boosted investor sentiment and pushed gold to $1990. Mark, and further approached the $2,000 mark on Tuesday. At the same time, the New York Federal Reserve Manufacturing Index plummeted to 3.7, and the mortgage delinquency rate recorded the largest quarterly increase. More than 12 states are expected to take the Trump administration to court as soon as this week.
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