>gold price
Gold prices rose on Monday as the US dollar slumped against other major currencies in Asia, but remained at its highest level in four months above the 92 level.
With China and China issuing long lists of demands on each other in Beijing on Friday (4/5). When both countries seek to resolve trade disputes between them. Based on a report, China requested an additional 25% over the extra tariffs, while the US expressed concerns over intellectual property.
Gold futures for June delivery on the Comex division of the New York Mercantile Exchange rose by $ 3.1, or 0.2%, to $ 1,317.9 per onspada at 04:16 GMT. Meanwhile, the US dollar index that tracks the strength of the greenback against a basket of six major currencies last at 92.30, down 0.13%. The greenback hit a new high this year at 92.70 on Friday (4/5) last week, then dropped to 92.30 on Monday morning (7/5). Despite the recent upward momentum, the US dollar has lost 6.3% over the course of a year.
US dollar-denominated assets such as gold are sensitive to US dollar movements. The downside movement of the US currency can make gold cheaper for foreign currency holders and thus increase demand for precious metals.
In other precious metals trading, silver futures rose 0.34% to $ 16.575 an ounce, and platinum futures rose by 0.63% to $ 917.3 per ounce.
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