Gold Shines as Dollar Retreats
Qiyas summary
Gold prices rose, supported by a weaker dollar and Democratic victories in the US elections, amid anticipation of jobs data.
Translated by Qiyas from النهار — Original source
Gold prices rose 2% yesterday, supported by a decline in the US dollar to its lowest level in a month, after Democrats secured key victories in the US midterm elections, while investors awaited the release of non-farm payrolls data later this week in search of clues about the direction of US monetary policy. Spot gold prices climbed 2.2% to $4,016.01 per ounce, and US December gold futures rose 2.2% to $4,026.90. Global equities also fell.
