The dollar fell about 0.5% as U.S. Treasury yields tumbled and traders scaled back expectations on the number of hikes the Fed would implement amid weakening economic data and market volatility.
Silver / US Dollar Spot
Spot Gold was up 0.1 Percent at $1,248.96 Per Ounce
Spot gold was up 0.1 percent at $1,248.96 per ounce, as of 0432 GMT, after hitting its highest since July 11 at $1,250.55 earlier in the session.
Gold Rises as the US and China’s Pause on Tariff Escalation Weighs on the Dollar
Gold Silver Reports (GSR) – Spot gold was up 0.3 percent at $1,225.67 per ounce at 0407 GMT, while U.S. gold futures were up 0.4 percent at $1,230.4 per ounce.
Gold Prices Zoom After Powell Says Interest Rates Are ‘Just Below’ Neutral
Gold Silver Reports (GSR) – U.S. gold futures settled up $10.20, or 0.8 percent, at $1,223.60. Gold jumped from near a two-week low on Wednesday after U.S. Federal Reserve Chair Jerome Powell said interest rates were “just below” neutral, soothing investor worries over the pace of rate hikes.
Gold Up on Concerns over growth; focus on Fed, G20
“People are moving some capital into gold at this time, given the uncertainties around the pace of rate hikes by the U.S. Federal Reserve, the U.S.-China trade war,” said Brian Lan, managing director at Singapore dealer GoldSilver Central.
Gold Inched lower on Tuesday, Pressured by Dollar
Gold inched lower on Tuesday, pressured by a slight uptick in the dollar and held a narrow range in light trade ahead of the U.S. Thanksgiving holiday.
Gold Prices Kiss 1 Week high Amid Brexit Turmoil
Gold Silver Reports (GSR) – Gold prices rose on Friday, having hit a one-week high earlier in the session, as investors sought safe-haven assets amid fears of a chaotic departure for Britain from the European Union.