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Gold gains on softer US dollar, geopolitical concerns; set for weekly fall
Gold prices rose on Friday, helped by a slight dip in the U.S. dollar and growing geopolitical tension, but remained ontrack for a weekly decline as markets awaited key U.S. data for further insights into the Federal Reserve's monetary policy direction. Spot gold rose 0.7% to $2,660.03 per ounce, as of 0236 GMT. However, bullion was down 2% so far this week. U.S. gold futures gained 0.8% to $2,659.70. The dollar index DXY eased 0.2, boosting gold's appeal for holders of other currencies. The escalating geopolitical tensions are making investors flock to gold in the hopes of capitalising on the potential price ... (full story)
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- Posted: Nov 28, 2024 10:22pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 249
