Gold Prices Get down $ 8 In Two Weeks

Gold Prices Get down  $ 8 In Two Weeks

Gold prices fell by $ 8 a barrel on Thursday, the metal’s lowest closing in nearly two weeks, as the dollar strengthened.

The strong performance of the greenback on the back of strong economic data led the precious metal to score led to a settlement in about two weeks.

Official data showed a more-than-expected drop in US jobless claims last week.

Trade tensions and the uncertainty created by US President Donald Trump are helping to reduce gold losses this week, which has been going down about 0.5% so far.

Investors are eyeing the Federal Reserve’s meeting on Wednesday amid expectations of a new rate hike.

Gold futures for April delivery ended a 0.6% drop, or $ 7.80, to $ 1317.80 an ounce, the lowest since March 1.

By 5:49 pm GMT, spot gold fell to $ 1318.64 an ounce, down 0.5 percent.

During the same period, the dollar index, which measures the performance of the green card against 6 major currencies, rose 0.4% to $ 90.045.

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