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    The vague relationship between gold and the dollar index

    شناسه : 26852 20 شهریور 1399 - 10:30
    The US dollar index recovered to 93.62 on Monday, recovering slightly from its value lost in recent weeks and rising 0.2 percent. One of the main reasons for the dollar's rise was the release of promising US economic data last week, including a drop in the US unemployment rate to 10.2 percent. The US national currency was able to record a positive weekly return last week after six consecutive weeks of decline against a basket of five major world currencies.Following the failure of negotiations between White House officials and the Democratic Speaker of the US House of Representatives, the main focus of the markets is now on trade negotiations and the future of the US-China trade war. Over the past few months, the price of gold and ounces has moved almost in the opposite direction, but if the level of tensions between Beijing and Washington increases, it is possible that the dollar can return to the upward path as a safe haven for assets.
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    Gold started the first trading day of this week with a devaluation after 9 consecutive weeks of climbing. While gold was able to cross the $ 2,000 mark in its all-time low and hit a $ 2073 high last week, it fell 0.28 percent to $ 2030 in trading on Monday. One of the main reasons for the gold stop yesterday was the 0.2% increase in the value of the rival market, the dollar index.

    The US dollar index recovered to 93.62 on Monday, recovering slightly from its value lost in recent weeks and rising 0.2 percent. One of the main reasons for the dollar’s rise was the release of promising US economic data last week, including a drop in the US unemployment rate to 10.2 percent. The US national currency was able to record a positive weekly return last week after six consecutive weeks of decline against a basket of five major world currencies.

    Following the failure of negotiations between White House officials and the Democratic Speaker of the US House of Representatives, the main focus of the markets is now on trade negotiations and the future of the US-China trade war. Over the past few months, the price of gold and ounces has moved almost in the opposite direction, but if the level of tensions between Beijing and Washington increases, it is possible that the dollar can return to the upward path as a safe haven for assets.

     

    *** Gold followed by price correction

    Analysts believe that the more valuable dollar has a huge impact on the decision of gold traders, and the appreciation of the US dollar, in addition to reducing demand in the gold market, will increase the cost of holding this precious metal for investors. On the other hand, after the 9-week ounce rally, gold investors seem to be seeking to protect the profits made in recent weeks, at least for the time being. Therefore, experts predict that a correction in the price of gold and a decline in the value of an ounce will be possible in the short term.

     

    *** The vague relationship between gold and the dollar

    On the other hand, increasing tensions between the two main poles of the world economy can also benefit the dollar. Market history has shown that in addition to gold, investors are using the US dollar as a safe haven as tensions between Washington and Beijing escalate; Therefore, any increase in tension could benefit the US dollar. However, in the crisis of the economic crisis, whatever gold has gained, the space has been to the detriment of the US dollar.

    While the world economy is in an unprecedented recession, gold has been able to break historical records in this distorted economic outlook, rising more than 30 percent in value since the beginning of the year. However, the value of the dollar index fell sharply as the Federal Reserve imposed protectionist policies and increased money printing in the country. It is possible that as the level of tensions between the United States and China increases, the inverse relationship between the dollar and gold will disappear to some extent.

     

    *** Will the intensity of support packages decrease?

    Some analysts believe that due to the release of relatively promising economic data in the United States, the Federal Reserve will reduce the implementation of its anti-coronation support packages to some extent. On the other hand, this could be to the advantage of the dollar. As the volume of expansion packages decreases, the flow of money injected into the US economy will slow down and the dollar will probably stop depreciating. It depends on the trend of the US economy in the coming months. On the other hand, economic stimulus packages have been one of the supports for the rise in gold prices so far, and if the Federal Reserve revises, gold will lose this price support.

     

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