Gold prices recover from two-month low as dollar rally stalls
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The Hindu Business LineGold prices recover from two-month low as dollar rally stalls
Gold prices edged higher on Thursday as the dollar eased from an 18-month peak, helping bullion recover from a two-month low, while traders weighed the prospect of another US Federal Reserve rate hike this year. Spot gold was up 0.5% at $4,132.66 per ounce by 0140 GMT. On Wednesday, bullion prices touched their lowest level since August 5 as a firmer dollar and higher US Treasury yields weighed on the market. US gold futures for December del…
Today, Thursday, gold prices rose slightly after touching their lowest level in two months during the previous session, while markets were waiting for more clarity on the course that the Federal Reserve (Central Bank) would take on interest rates, according to Reuters.
Gold prices surged on Thursday, rising from a two-month low as the dollar retreated from an 18-month high. Spot gold climbed to $4,132 an ounce, with investors now focused on the Fed's interest rate decisions and global risks. What is the real reason behind this mysterious rebound that shook the markets?
Gold prices rose on Thursday after the dollar retreated from an 18-month high. The precious metal recovered from a two-month low seen under pressure from a strong dollar and rising US Treasury yields, with investors focused on the Federal Reserve's interest rate moves for the remainder of the year.
Gold, which rose to $4,133 per ounce with bargain hunting, and gram gold, trading at 6,538 TL, are the focus of investors.
Gold rose on Thursday as the dollar retreated from an 18-month high.
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