Gold Prices Survive A Worse Fall

thecekodok

 Gold prices changed little at the start of trading after declining for three consecutive weeks with prices trying to hold on above $ 1,800 amid the strengthening US dollar.


In the Asian session, the yellow metal traded at around $ 1,809 an ounce, rebounding from a fall recorded last Friday at $ 1,785.


The US dollar continued to hover at a nearly 20 -year high, making gold less attractive to holders of other major currencies.



Asian stock markets started cautiously on Monday following weak U.S. manufacturing data suggesting downside risks in June.


Concerns over the recession rose after the US ISM manufacturing PMI index slipped to a two -year low, giving a bleak sign for the next economic data to be published this week.


The US NFP employment report and the minutes of the FOMC policy meeting will be the main focus of investors this week which will determine the next movement of the price of gold and the king of the USD currency.

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