empty
 
 

2022.05.1718:05:00UTC+00Gold Futures Settle Higher For 2nd Straight Day As Dollar Drifts Lower

Gold prices moved higher on Tuesday, gaining for a second straight session as a weakening dollar boosted the yellow metal's safe-haven appeal.

The dollar index dropped to 103.23, losing nearly 1%.

Gold futures for June ended higher by $4.90 or 0.3% at $1,818.90 an ounce.

Silver futures for July ended up by $0.199 at $21.750 an ounce, while Copper futures for July settled at $4.2390 per pound, up $0.0475 from the previous close.

A report released by the Commerce Department showed retail sales in the U.S. increased by more than expected in the month of April, surging up by 0.9%, after jumping by an upwardly revised 1.4% in March.

Economists had expected retail sales to rise by 0.7% compared to the 0.5% increase originally reported for the previous month.

Excluding a rebound in sales by motor vehicle and parts dealers, retail sales rose by 0.6% in April after surging by 2.1% in March. Ex-auto sales were expected to edge up by 0.3%.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback