Gold Prices Fell As Dollar Stabilized – Stocks Register

Gold Prices Fell As Dollar Stabilized

On Tuesday, Gold prices dropped by -0.67 percent to $ $1,866.60 for the Comex futures contract in February. With decision on the economic stimulus plan by U.S, Congress and worsening health situation in Europe caused the Dollar to strengthened its position against the major riskier currencies, also weakened the risk appetite for yellow metal.

On the other hand, the Conference Board’s December Consumer Confidence Index was also disappointing, dropping to 88.5 from the previous value of 92.9 points, although the market expected the indicator to rise to 97.75 points.

At the Wall Street on the day, high-tech and small-cap companies’ shares pushed the market up, while conventional business issuers largely declined, while there remained some individual corporate tales impacting the relevant stock prices.

One of the key newsmakers was Apple when the news emerged that the iPhone maker, after the computer and smartphone is now in plans to develop the electric vehicles with its own battery technology by 2024. Apple shares that are part of the “U.S. Balanced” have increased by 2.85% to $131.88, leading the DJIA index’s list of growing stocks. As part of the DJIA, shares of the drugstore chain Walgreens Boots fell -3.44% to $39.27 dropped the most and pharmaceutical firm Amgen dropped by -2.78% to $220.99. Knowledge about the appearance of a new SARS-CoV-2 strain in the UK seems to have called into doubt the efficacy of vaccines. In any event, their manufacturers’ shares were aggressively falling yesterday: Pfizer Securities lost 1.71%, BioNTech dropped by 5.54% and Moderna fell by 8.98%.

Travel and tourism-related businesses have also reduced their capitalization: Norwegian Cruise Line (-6.86 percent), Carnival Corp (-5.95 percent), American Airlines (-3.85 percent).

Cosmetic paper maker Coty Inc (+6.77 percent) and real estate investor Apartment Investment and Management Co (+4.96 percent) are among the growth leaders in the S&P500 index.

On Tuesday, the final GDP data for the third quarter was revealed in the US. The country’s gross production rose by 33.4 percent q / q (per annum), which was 0.3 percentage points above the preliminary estimate. Home sales in the United States on the secondary market decreased by 2.5 percent m/m in November after a rise of 4.4 percent m/m a month earlier, which was worse than analysts’ m/m estimates of -1.0 percent.

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