Despite its rise by about 0.20%, trading at levels of $ 1830 an ounce with the opening of the American markets for today’s session, Monday, June 27 (June 27), the yellow metal loses about 0.45% compared to the highest level recorded at the beginning of the European session, after it tested the levels of 1939 dollars, affected by the recent rise of the US dollar .
The US dollar is trading at 104.18 levels, rising from its lowest level during the session, by about 0.28%, after testing 103.90 levels.
The yellow metal benefited from the beginning of the Asian session and opened on the upside of the ban by the President of the United States of America and the leaders of Japan, Canada and Britain on Sunday, the import of gold produced in Russia, in an additional step to the sanctions imposed on Russia due to its invasion of Ukraine.
Russia is the second largest producer of gold in the world, with an estimated 9.5% of the global supply in 2021, with exports amounting to 15 billion dollars.
Russia extracted about 314 tons of gold, according to the Russian Ministry of Finance, which will negatively affect the Russian economy and limit its capacity To finance its military operations in Ukraine.
On the other hand, the COT report issued by the CFTC showed an increase in purchase contracts for major speculators and hedge funds last week by 163,287 compared to 154.598 in the previous week.
Silver is trading at $21.38 per ounce, up by 1.28%.
Platinum is trading down by about 0.02% at levels of $907, while palladium is up by about 3.17% when it is trading at levels of $1.935.
02/11/2024
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