Gold inches up before weekend

2019-02-08 20:43:32 GMT (Economies.com)
Gold inches up before weekend

Gold prices rose marginally today while still heading for weekly losses after a five-session decline due to the higher dollar, which became a more attractive haven due to US treasuries from precious metals. 

 

Gold failed to benefit from the current risk aversion in the market due to concerns over slower global growth and trade tensions. 

 

As of 17:55 GMT, the dollar index steadied at 96.6, with a session-high at 96.7, and a low at 96.4. 

 

Central banks in the euro zone, England, and Australia cut their estimates for global growth this year, with Federal Reserve Governor James Bullard expressing his concerns from the lower-than-target inflation and its impact on growth. 

 

Bank of America analysts believe that analysts are preferring bonds and stocks in developing markets over precious metals. 

 

As of 17:58 GMT, gold rose 0.3% to $1,318.8 an ounce, with an intraday high at $1,319.3, and a low at $1,311.5. 

 
 
 
  Symbol Last Change Chg.%
1.1079
-0.0019
0.1726%
1.2132
-0.0022
0.1822%
16.874
-0.230
1.344%
56.195
1.395
2.546%
59.76
1.12
1.91%
1496.340
-15.925
1.053%
 
 
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