Precious-Gold retreats more than 1% as dollar halts slide – ZAWYA

  • Date: 31-Jul-2020
  • Source: Zawya
  • Sector:Oil & Gas
  • Country:UAE
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Precious-Gold retreats more than 1% as dollar halts slide – ZAWYA

Precious-Gold retreats more than 1% as dollar halts slide Fed pledges to keep interest rates near zero    Gold bars and coins are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019. Gold fell on Thursday as the dollar stalled its slide, with analysts saying bullion may face more resistance in its bid to breach the $2,000 level.Spot gold was 1.0% lower at $1,951.42 per ounce by 1220 GMT, having earlier fallen as much as 1.3% to $1,944.76.U.S. gold futures eased 0.4% to $1,946.50.The dollar found some support after the U.S. Federal Reserve in a policy update offered no real clues about its next moves beyond a reiteration of its easy monetary stance.Spot gold was 1.0% lower at $1,951.42 per ounce by 1220 GMT, having earlier fallen as much as 1.3% to $1,944.76.Gold fell on Thursday as the dollar stalled its slide, with analysts saying bullion may face more resistance in its bid to breach the $2,000 level.The dollar found some support after the U.S. Federal Reserve in a policy update offered no real clues about its next moves beyond a reiteration of its easy monetary stance.Dollar bears had speculated