The USD index lowered the “bottom” for 3 years, helping the gold market to continue to prosper

Opening this session, at 7:17 pm (Vietnam time), in the Bengaluru (India) market, spot gold prices rose 0.1% to $ 1,339.46 / ounce, after climbing to the highest level. from 6/9/2017 is 1,339.97 USD / ounce at the time before.

 

In the session last week, spot gold prices rose 1%, after US President Donald Trump on January 12 announced that he would sign an order to delay implementation of sanctions against Iran's nuclear program for the last time. to give the US and its European allies the opportunity to "fix the bugs" he called the "catastrophe" of the 2015 nuclear deal.

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Gold benefited in the first trading session of the week, when the USD index decreased by 0.2%, to 90.8, the lowest level since January 2015. The drop in service prices caused the US manufacturing price index to drop for the first time in nearly a year and a half, raising expectations that the country's inflation rate would accelerate in 2018.

Meanwhile, the consumer price index of the US in the same period recorded the strongest increase in 11 months, due to rising costs of rent and medical care, also contributed to reinforcing confidence in the ability to push inflation of the world's No. 1 economy is higher.

Also in the beginning of the session on January 15, the price of palladium turned back 0.4% to $ 1,119.49 / ounce, after hitting a record high of $ 1,126.30 / ounce at the end of last week. The recent price increase of this item is mainly due to the shortage of supply and rising demand from the automobile industry.