Print Edition - 2018-05-03  |  Money Digest

Gold claws back from four-month low

BENGALURU

May 3, 2018-

Gold prices rose on Wednesday, ticking up from a four-month low hit in the previous session, as Chinese buyers returned to the market following the Labour Day holiday, while investors waited for cues on US monetary policy from a two-day Federal Reserve meeting. Spot gold was up 0.5 percent at $1,309.71 per ounce at 0653 GMT. Gold fell to $1,301.51 in the previous session, its lowest since Dec. 29, 2017. US gold futures for June delivery rose 0.31 percent to $1,310.80 per ounce on Wednesday. “The Chinese are back from a long holiday and we’re seeing some buying interest on the downside,” said Peter Fung, head of dealing at Wing Fung Precious Metals. (REUTERS)

Published: 03-05-2018 08:17

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