Gold gains as tepid dollar, virus-induced curbs lift appeal

SourceZawya
SectorOil & Gas
CountryGCC

* U.S. gold futures inched 0.1% lower to $1,959.90.* The dollar index was down 0.1% against its rivals, making gold more attractive for buyers holding other currencies.* Fed policymakers on Friday began fleshing out what their new tolerance for inflation will mean in practice, an issue critical to how investors and households reshape their own outlooks even if it may not be relevant to any immediate decisions by the U.S. central bank.  * Investors are now looking forward to clues on Fed's monetary policy as a slew of policymakers are due to make public speeches, including Chairman Jerome Powell, who will appear before Congressional committees later this week. * The resurgence in COVID-19 infections across the world in recent months has forced authorities to gradually reimpose bans including the mandatory ...read more...