Gold edges up alongside dollar

Economies.com
1 week ago

Gold prices edged up on Monday as investors monitor dollar's movements and assess economic outlooks.

 

After her earlier warnings about economic slowdown in a third of the global economy, IMF Chief Cristalina Goergiva expresses optimism that the US economy might just avoid recession.

 

As recession concerns spread, major tech companies like Google, Microsoft, Meta, Twitter, and Amazon announced a big wave of layoff to cut costs.

 

Otherwise, the dollar index rose 0.1% as of 19:20 GMT to 102.07, with a session-high at 102.2, and a low at 101.5. 

 

Gold prices rose 0.1%, or two dollars as of 19:22 GMT to $1,930.4 an ounce. 

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