2023-05-19 19:56:15
Gold prices rose today, Friday, as the dollar fell, but increasing optimism regarding reaching an agreement on the US government debt ceiling put prices on a weekly decline track.
And gold in instant transactions increased 0.3 percent to $ 1964.09 an ounce (an ounce) by 1110 GMT, following falling to its lowest level since the beginning of April yesterday, Thursday.
Gold futures rose 0.4 percent to $1,967.80.
The dollar index fell 0.3 percent during the day, making gold within reach of holders of other currencies, but the index is heading for gains for the second week in a row.
Gold is heading for its worst week since early February and is down regarding 2.3 percent so far this week.
A White House official said Democratic negotiators told President Joe Biden on Friday that they were making “steady progress” in talks with Republicans aimed at averting a debt default crisis for the United States.
Gold rose to $2,072.19 earlier this month, a few cents less than its all-time high of $2,072.49, but has since fallen regarding five percent following data showed a contraction in the labor market and continued high inflation.
Archyde.com technical analyst Wang Tao said that gold prices may fall further to a range between 1938 and 1947 dollars an ounce.
As for other precious metals, spot silver rose 0.4 percent to $23.60 an ounce. Platinum rose 1.6 percent to $1,065.34. Palladium rose four percent to $1,511.40.
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