Gold Edges Higher on Softer Dollar as Rate-Hike Expectations Ease
- Gold prices edged toward $4,400 an ounce as traders assessed the Federal Reserve's interest-rate path following signs of cooling in US consumer sentiment and retail sales data, easing fears of an imminent rate hike.
- Federal Reserve Bank of Chicago President Austan Goolsbee noted progress in cooling inflation but seeks further confirmation to reach the 2% target.
24 Articles
24 Articles
The prices of future gold contracts closed the session this Monday (17) on high, supported by demand from central banks and by the reduction of the bets on high interest by the Federal Reserve (Fed) after weak data of the American economy, which favors the precious metal, which does not generate revenues. The falling dollar abroad also supports the gold. In Comex, metal division of the New York Mercantile Exchange (Nymex), the gold with delivery…
Gold prices edged higher in early Asian trading on Tuesday, supported by a weaker dollar and the latest economic data that tempered expectations of a U.S. interest rate hike next month. Spot gold rose 0.3 percent to $4,388.62 per ounce, while U.S. gold futures for December delivery gained 0.2 percent to $4,444.30. The dollar index fell 0.1 percent, making dollar-denominated gold less expensive for holders of other currencies. Among other preciou…
This article was originally published on Cedarnews.net. For more exclusive news and reports, visit our website. Gold prices rose on Monday, August 17, supported by a weaker US dollar and reduced expectations of a Federal Reserve interest rate hike. Spot gold climbed 0.4% to $4,391.07 per ounce by 2:48 AM GMT, while US gold futures for December delivery rose 0.3% to $4,448.10. Interest rate expectations support gold. The index fell… This news was…
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Gold edges higher on softer dollar as rate-hike expectations ease
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