Urgent: Gold falls by 1.4% to $ 1628

The market’s direction changed today, after two sessions of strong ascent for US stocks and indices, the losses turned today, while the dollar index regained its upward trend.

Today’s economic data will be nothing but a bad omen for the US economy, as the data revealed weakness in the US housing market as mortgage interest rose to high levels, and interest in the home market and mortgage loans fell to the lowest levels since 1997.

For more details: Urgent: US real estate data deepens the problem

Markets now

The Nasdaq is down by 0.79% to record 10681.4 points, while the Dow Jones is down by 0.29%, losing nearly 90 points, and the S&P 500 is down by 0.72% and is currently recording 3692 points.

On the other hand, the US dollar index rose 0.7% to record 112.763 against a basket of foreign currencies, while the euro fell by 0.73% to record 0.9779, the lowest line of parity with the dollar.

While gold fell strongly, losing 1.4% of its value, and is now trading at $1628.96 an ounce for spot contracts, and 1633.4 for futures contracts.

Oil rose after the release of US inventory data, and Crude is now at $83.52 a barrel, up 1.7%, while Brent is at $91.56 a barrel, up by 1.7%.

For more details: Urgent: Oil stocks are deviating from expectations..markets are confused

Bitcoin continues to drop by 0.77% and is now trading at $19,223 a symbol, and Ethereum is also down 0.78% to trade at $1299 a symbol.

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