Gold hits 1-1/2 month high as dollar gives up ground

Economies.com
2017-07-27 03:15AM UTC

Gold prices rose on Thursday to 1-1/2 month high, as dollar slid to a new 13-month low, adding to the Federal Reserve’s remarks on maintaining low interest rates to help send commodity prices higher.

 

Gold last traded at $1262.8 an ounce, up from the opening of $1260.0 an ounce, with a session-high at $1263.8 an ounce and low at $1259.9 an ounce.

 

Gold prices increased following dollar’s drop after Fed maintained its easing monetary policy as a result of persistently sluggish inflation with no outlook for a rebound.

 

Gold prices and interest rates have an inverse relationship, which underpinned gold prices as the Fed took a bearish stand on inflation outlook.   

Commodities News

Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...
Oil News

Commodities

Oil prices extend losses after a spike in US inventories
2024-03-27 13:21PM UTC
Oil prices declined in European trade on Wednesday, extending losses for the second session, with ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...