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Gold Rallies Above $4,100 as Weaker US Dollar Draws Buyers Back
Gold rose above $4,100 an ounce in early Asian trading on Thursday, extending a sharp rebound as a weaker US dollar, technical buying and persistent Middle East tensions brought investors back to bullion. Spot gold (XAU/USD) traded near $4,125 after gaining 1.7% on Wednesday and reaching a two-week high. Spot gold rose to $4,145.24 an ounce by 1641 GMT on Wednesday after touching $4,165.87, its highest level since 7 July. US gold futures for August delivery settled 1.9% higher at $4,151.90. The recovery followed a volatile period in which gold briefly fell below $4,000 as rising oil prices and US Treasury yields ... (full story)
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From moneycheck.com | 8 hr ago
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