Gold climbs amid calm holiday trading
Gold prices rose in European trade off four-week lows on track for the third profit in four days as the dollar index declined against major rivals.
Calm trading dominates the market due to the ongoing bank holiday in the US.
Prices Today
Gold prices rose 0.4% to $1,846 an ounce, after losing 1% on Friday, the first loss in three days as the dollar recoups against major rivals.
Gold prices lost 1.75% last week, the second weekly loss in a row, and the largest since May.
The Dollar
The dollar index fell 0.4% on Monday on track for the third loss in the last four sessions on active profit-taking off 20-year highs against major rivals.
No analysts doubt another 0.75% rate hike by the Federal Reserve in July, in turn dampening demand on the greenback.
A holiday
The US markets is closed for a public holiday today for the Independence Day, leading to some shortage of liquidity.
The SPDR
Gold holdings at the SPDR Gold Trust rose 11.6 tones, the largest increase since March 1, to a total of 1,075 tones, the highest since May 9.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.0427
|
-0.0154
|
1.4550%
|
|
|
|
|
1.2096
|
-0.0176
|
1.4311%
|
|
|
|
|
19.698
|
-1.669
|
7.811%
|
|
|
|
|
108.022
|
0.605
|
0.563%
|
|
|
|
|
111.50
|
2.47
|
2.27%
|
|
|
|
|
1799.775
|
-29.770
|
1.627%
|
|
