Gold Prices Up Jolted By US Dollar Slip
- Date: 03-May-2021
- Source: Al Bawaba
- Sector:Financial Markets
- Country:Middle East
Gold Prices Up Jolted By US Dollar Slip
Gold was up on Monday morning in Asia, with muted dollar giving the yellow metal a shine on the first trading day of May. Investors also await further U.S. economic data later in the week.
Gold futures were up 0.36% to $1,774 by 12:10 PM ET (4:10 AM GMT). The dollar, which usually moves inversely to gold, inched up on Monday.
U.S. Treasury Secretary Janet Yellen on Sunday said the government spending into President Joe Biden’s plans for infrastructure, jobs and families will be phased in over a decade, thus allaying investor concerns over inflation.
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