Gold declines to two-week lows

Economies.com
2024-04-23 20:50PM UTC

Gold prices fell on Tuesday even as the dollar fell against most major rivals ahead of important data and corporate earnings results. 

 

Tesla will announce results after the close today, with Meta scheduled for tomorrow, followed by Alphabet and Microsoft on Thursday. 

 

As for data, analysts expect the US GDP to grow at a 2.3% pace in the first quarter, with results coming out tomorrow. 

 

US personal spending data are expected to have climbed 0.3% in Marc, with results due on Friday.

 

Earlier data today showed the manufacturing PMI down to 49.9 this month from 51.9 in March, while the services PMI fell to 50.9 from 51.7. 

 

Otherwise, the dollar index fell 0.4% as of 20:37 GMT to 105.6, with a session-high at 106.2, and a low at 105.6. 

 

Otherwise, gold spot prices fell 0.4%, or $9.70 as of 20:38 GMT to $2336.6 an ounce. 

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