Gold edges higher as dollar falls
Economies.com
2021-09-24 17:38PM UTC
Gold prices edged higher on Friday, as the US dollar fell against its peers.
The US Federal Reserve Chairman stated that he expected the Fed to start reducing the bond-buying program in November.
The Fed has kept the interest rate between zero and 0.25% unchanged, but projected to raise it 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024.
The dollar index fell against a basket of currencies by 0.2% to 93.2 points as of 17:26 GMT, after it hit a high of 93.4 points and a low of 93.05 points.
As of 17:26 GMT, gold spot prices rose 0.1% to $1,751.3 an ounce, with a high at $1,758 and a low at $1,740.2.
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