Stock market's DAX opens with a loss, while Adidas trails behind
The gold market remained unaffected by the fluctuations in the dollar-euro exchange rate, as the precious metal continued to show weakness, currently trading at $1,762 per troy ounce, or €48.45 per gram.
In contrast, the stock market showed a mixed performance on Friday. The DAX index started the last trading day of the week on a loss, with a calculation of around 15,520 points. Siemens Healthineers, Bayer, and Siemens Energy stocks led the gains, while Adidas, Puma, and Zalando found themselves at the bottom of the list with declines of around two to over three percent.
The most notable gains were seen by Santhera and SoftwareOne, linked to the biotech and software sectors respectively, with Santhera recording a 1.3% increase, and SoftwareOne seeing a significant 3.9% rise. Furthermore, TX Group also saw increased investor interest ahead of the Swiss Marketplace Group's anticipated IPO.
Meanwhile, the European common currency weakened on Friday morning, with one euro worth 1.1692 US dollars (-0.3 percent). The gold price, however, is not related to the European common currency.
It's important to note that the gold price is not related to the stocks mentioned in this article, including Adidas, Puma, Zalando, Siemens Healthineers, Bayer, Siemens Energy, Santhera, SoftwareOne, TX Group, or the Swiss Marketplace Group. The gold price also remains independent of the DAX index.
In conclusion, while the stock market and the European common currency experienced some volatility, the gold price continued its downward trend, remaining unaffected by these factors.
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