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Gold Wobbles Following Dollar

April 4, 2016 at 16:56 by Vladimir Vyun

Gold is trading below the opening level right now, but it was swinging between gains and losses during the current trading session. It is not surprising, considering that the performance of the metal was depending in large part on behavior of the dollar lately, and the US currency itself is unsure where to go now.

This week’s comments from the Federal Reserve may help in establishing a clear trend. The Fed will release minutes of its latest policy meeting on Wednesday, and Chairperson Janet Yellen will speak on Friday.

As for other precious metals, they are also trading below the opening currently.

Contract for delivery of gold in June slipped 0.27% to $1,220.2 per troy ounce as of 16:49 GMT on COMEX today. May silver also declined 0.27% to $15.01 per ounce. Spot price for platinum was down 1.59% to $941.85 per ounce while palladium tumbled as much as 2.5% to trade at $552.18 per ounce.

If you have any questions and comments on the commodities today, use the form below to reply.

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