Print Edition - 2018-09-06  |  Money Digest

Gold nudges up as dollar eases

BENGALURU

Sep 6, 2018-

Gold edged up on Wednesday, after slipping to a more than one-week low in the previous session, as the dollar eased despite concerns of an escalation in the trade conflict between the United States and China. Spot gold rose 0.2 percent to $1,193.31, after touching a more than one-week low at $1,189.20 on Tuesday. “We are in a situation where it is completely a dollar driven trade. Until we get a convincing breakout (in gold)... the markets are going to be reticent,” said Stephen Innes, Asia-Pacific trading head at OANDA. “The US dollar can actually see a bit a reversal on the fact that we are not seeing a big wave of panic as there hasn’t been any significant impact on US equity markets,” he said. (REUTERS)

Published: 06-09-2018 08:01

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