2023-12-29 22:45:55
Gold Futures Weaken During U.S. Trading
Gold futures weakened during U.S. trading on Friday, with prices for February delivery falling to $2,073.85 per ounce, a decrease of 0.46%. Earlier in the day, the contracts hit a daily low of $2,067.65 per ounce. Analysts predict that the futures will find support at $2056.30 and resistance at $2098.20.
Meanwhile, futures contracts on the U.S. dollar index, which measures the American currency against a basket of six other leading currencies, rose by 0.09% to $101.01.
On the Comex exchange, oil for delivery in March also experienced declines, with prices falling by 1.34% to $24.05 per ounce, while oil for delivery in March traded down 0.78% at a price of $3.89 per pound.
The fluctuations in the prices of gold and oil reflect the ongoing uncertainty in the financial markets, driven by concerns about economic recovery and the impact of the COVID-19 pandemic. Investors continue to closely monitor these commodities and the U.S. dollar as indicators of market sentiment and global economic health.
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