Gold near record highs as dollar declines
Economies.com
2020-08-06 07:26AM UTC
Gold prices rose in European trade for the third straight session above the historic barrier of $2,000 and nearing record highs.
Gold rose 0.8% to $2,053.97 an ounce, after closing up 0.9% yesterday, marking record highs at $2,055.
The dollar index fell 0.2% on Thursday, the third decline in a row and hitting 27-month lows at 92.52.
Disappointing US jobs data damaged dollar and hurt prospects of US economy.
Dollar is also hurt by mounting Democratic-Republican political tensions on the financial rescue package against the virus.
Gold holdings at the SPDR Gold Trust rose 10.23 metric tonnes yesterday, the third increase in a row, to a total of 1,267 tonnes, the highest since February 2013.
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