Gold declines as dollar appeal jumps – GulfToday
- Date: 29-Jan-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Gold declines as dollar appeal jumps – GulfToday
Picture used for illustrative purpose. File
Gulf Today Report
Gold prices fell on Thursday as dollar appeals increase and US Federal Reserve indicated worry about the slow-paced of economic recovery.
Spot gold eased 0.3% to $1,837.67 per ounce while US gold futures shed 0.6% to $1,833.70.
Kyle Rodda, IG Market analyst said, "the market seems to be very disappointed with the Fed... we didn't get anything additional in terms of policy guidance or stimulus prospects so that sunk risk assets, pushed the dollar up and gold got caught in that trade."
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