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Home Gold News Gold returns lower as dollar recovers

Gold returns lower as dollar recovers

by anna

Gold prices fell on Thursday after positive US data while dollar surged against most major rivals.

Recent data showed US unemployment claims fell to 228 thousand last week from 237 thousand, while analysts expected an increase to 239 thousand.

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Philly Fed data showed the manufacturing index fell to minus 13.5 in July, missing estimates of minus 10.

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US existing home sales tumbled 3.3% in June to 4.16 million units, while analysts expected a drop 4.2%.

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On a yearly basis, existing home sales swooned 18.9% last month.

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Both Tesla and Netflix reported quarterly results yesterday for the second quarter of 2023, and the results were quite positive.

Otherwise, the dollar index rose 0.6% to 100.8 as of 20:18 GMT, with a session-high at 100.9, and a low at 100.02.

Gold spot prices fell 0.4% as of 20:19 GMT, or $7.40, to $1,973.40 an ounce.

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