Gold contract prices rose gold during the trading session on Tuesday, after falling yesterday to the lowest level in five months.
The rally came at a time when the dollar's decline dramatically increased demand for the yellow metal.
This also comes at a time when economic data showed a decline in US manufacturing activity in November, more than expected.
The dollar index fell against other major currencies to 91. 27 points during trading, before stabilizing at the same level yesterday.
Who owns the gold? America is the first and the treasures of the East are in the coffers of 14 Arab countries. Where is the most expensive cappuccino sold in the world? . One ounce of gold is enough to drink per year. The gold price rose today by $ 38, or 2. 1%, to $ 1818. 90 per ounce for the next delivery in February, to record its largest daily increase in about 4 weeks.
The price of silver rose $ 1,497, or 6. 6%, to $ 24,090 per ounce for the next delivery in March, while the price of copper rose by $ 0. 0470 to $ 4,850 an ounce for the next delivery in March.
In terms of economic news, an economic report published on Tuesday showed that the activity index of the manufacturing industry in the United States fell during November more than expected.
Purchasing in the industry The US Institute of Supply Management stated that the index of purchasing managers in the industry fell last month to 57. 5 points, compared to 59. 3 points in October last year. Analysts had expected the index to fall to just 58 points.
A reading of more than 50 points indicates a growth in the sector's economic activity, while a reading of less than 50 points indicates a contraction in activity.
The main purchasing index for purchasing managers in the industry fell more than expected due to the fall in the sub-index for new orders to 65. 1 points during the last month, against 67. 9 points last month, and the index production fell to 60. 8 points from 63 points in the same period.
The employment index in manufacturing fell to 48. 4 points last month, compared with 53. 2 points last month, which indicates a decline in employment in manufacturing after a month of growth.
The report from the Supply Management Institute indicated that the price index fell last month to 65. 4 points, compared to 65. 5 points last month.
At the same time, Jerome Powell, chairman of the United States Federal Reserve (Central Bank) Board, testified before the United States Senate Banking Affairs Committee today that the economic outlook is "exceptionally vague," adding that it largely depends on success. with the work of controlling the new coronavirus.
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