The maximum of the session was at $ per troy ounce. At the time of writing, gold found support at $4,488.00 and resistance at $4,615.50.
Futures on USD indexfutures for the USD index, which measures the US dollar against a basket of six major currencies, is down 0.31% at $98.88.
As for other commodities traded on the COMEX, silver futures are down 0.31% to trade at $98.88. silver silver futures for July delivery rose 2.64% to settle at $78.21 per troy ounce, while copper futures rose 2.64% to settle at $78.21 per troy ounce. copper copper futures for July delivery rose 1.08% to settle at $6.45 per pound.
Gold rose in price amid a weaker dollar
Gold on Monday, May 25, rose in price during trading in Europe and continued to grow in the global market. This is evidenced by the data of the site CME Group.
The price of gold futures with delivery in August rose to $4 598.35 per troy ounce, adding almost 1% for the day. During the trades, the price fluctuated: the minimum was around $4,488 and the maximum was about $4,615.
Gold’s rise was supported by a weaker dollar. The U.S. dollar index, which shows its exchange rate against six major currencies, fell 0.31% to 98.88 points. When the dollar falls, gold usually becomes cheaper for buyers from other countries – so demand for it rises.
Other metals also rose in price. Silver added more than 2.5% and climbed to $78.21 an ounce. Copper rose about 1% to $6.45 per pound.
In general, the metals market reacts to currency fluctuations and expectations for the global economy. In such periods, investors often go into gold as a more reliable asset.
