MTECHTIPS;-Gold Prices Advance to 1-Month High as Dollar Moves Lower

MTECHTIPS;-Gold Prices Advance to 1-Month High as Dollar Moves Lower

MTECHTIPS-Gold prices hit a one-month high on Thursday, in holiday-thinned trading as weakness in the dollar supported the precious metal. Comex gold futures rose 0.28% to $1,295.00 a troy ounce by 4:32 AM ET (9:32 GMT) Thursday, just off its intraday high of $1,296.10 which was its highest level since November 29. Futures were on the rise for a third straight session and were on track for weakly gains of more than 1%. Gold has benefited from recent weakness in the dollar in what many observers are suggesting is a case of selling off on the official announcement that U.S. President Donald Trump signed off on the tax overhaul. A weaker greenback makes the precious metal more affordable for holders of foreign currency. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last down 0.26% to 92.42, levels not seen since the end of September. On Thursday’s economic calendar, investors will focus on weekly jobless claims at 8:30 AM ET (13:30 GMT). Also on the docket, markets will digest the November trade balance, wholesale the Chicago purchasing mangers’ index (PMI) for December

MTECHTIPS-Apply For 2 Days Free Trails Equity & Commodity Tips
WWW.MTECHTIPS.COM

07489294118-119