Forex News

Gold prices fall

After four consecutive days of growth, gold futures declined on Thursday, as the US dollar rose.

The dollar again became in demand a few minutes after the last meeting of the Federal Reserve System for Monetary Policy, during which it was decided to interest rate increase in September.

After six fall sessions, the dollar index rose to 95.50, 0.5% higher than at the close of the previous session.

December gold futures fell by $ 9.30, or 0.8%, to 1 1 94.00 dollars per ounce. On Wednesday, gold futures rose $ 3.30, or 0.3%, to $ 1,203.30 an ounce.

Silver futures for September delivery fell $ 0.208 to $ 14.542 an ounce.

Copper futures for September delivery fell to 2.6545 per pound, by 0.0190 US dollars.

Markets are now waiting for the central bank symposium in Jackson Hole, Wyoming, which will focus on the theme "Changing market structure and implications for monetary policy. " This will be the first symposium for Jerome Powell as head of the Federal Reserve.

US President Donald Trump criticized Powell's approach to interest rates quite often and said last week that he was "not enthusiastic" about Powell's decision to raise interest rates. [19659002] A report published by the Department of Labor on Thursday showed a modest decline in initial applications for unemployment benefits in the US for the week to August 18. The report says that initial applications for unemployment benefits fell to 210,000, which is 2,000 less than the previous week's level of 212,000. Economists had expected the number of applications for unemployment benefits to reach 215,000.

According to a report published Ministry of Commerce on Thursday, sales of new homes in the US unexpectedly declined in July. The report said that home sales in the primary market fell by 1.7 percent to an annual level of 627,000 in July, after falling 2.4 percent to a revised figure of 638,000 in June. Economists had expected that sales of new homes would increase by 2.2 percent.