Gold Edges Higher as Cooler Inflation Data Meets US Dollar Weakness, but Iran Risk Keeps Bulls in Check
From thegoldforecast.com
Today gold futures gained a modest $14.30, or 0.35%, progress for the bulls attempting to keep prices above the near-term bottom near $4,000. Today's increase brings gold futures to $4,066, but beneath the surface, when accounting for dollar weakness, sellers actually outnumbered buyers today. The U.S. dollar index declined by 0.41% today and 0.39% yesterday. The dollar is still above 100, however, at 100.49, not far from its highest value in over a year, which it reached when it hit 101.81 on June 25. Today's moves in gold and the dollar were predicated on a weaker-than-expected producer price index report released ...
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