Print Edition - 2018-06-15  |  Money Digest

Gold hits two-week high on weak dollar


Jun 15, 2018-

Gold hit a two-week high on Thursday, supported by a weaker dollar and trade worries between Washington and Beijing, even as the US Federal Reserve forecast a slightly faster pace of interest rate hikes this year. Spot gold rose 0.3 percent to $1,302.50 per ounce at 0744 GMT. It earlier hit a high of $1,303.38 an ounce, its best since May 31. US gold futures for August delivery rose 0.4 percent to $1,306 per ounce. Dollar is under pressure, so gold is doing well this morning, a Hong Kong-based trader said. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.4 percent at 93.388. US President Donald Trump will meet with his top trade advisers on Thursday to decide whether to activate threatened tariffs on Chinese goods. (REUTERS)

Published: 15-06-2018 08:08

Next Story

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment