Markets

Trump is making the gold price tremble

D.he prices for raw materials apparently moved the election in America. The American oil type West Texas Intermediate (WTI) rose at times by 2.8 percent to 37.83 dollars per barrel (barrel of 159 liters). It also benefited from the ongoing speculation about an extension of the current subsidy brake by the export cartel Opec plus, said Commerzbank analyst Eugen Weinberg. Industrial metals were also in demand. Copper advanced 0.7 percent to $ 6,809.50 per ton.

Meanwhile, the gold price also rose 0.7 percent to $ 1905.76 a troy ounce (31.1 grams). According to stockbrokers, it was boosted by the devaluation of the dollar, which makes the precious metal more attractive to investors outside the United States. The dollar index, which reflects the exchange rate against other major currencies, lost 0.7 percent.

The development of the gold price on Wednesday night was remarkable. The price of the precious metal fluctuated with the news from America. The price chart looks like the purest zigzag movement. After rising to around $ 1916, the rate had since fallen to $ 1,883. The Corona crisis also remains a strong price driver, in August the price rose to more than $ 2,000 for the first time.

Tags

Related Articles

Back to top button
Close
Close