Gold rate per gram: Check out current gold price per gram
Gold rate per gram: Check out current gold price per gram
ETMarkets.com|Sep 06, 2017, 12.55 PM IST
Spot gold was nearly unchanged at $1,338.10 per ounce by 0641 GMT, after touching its highest since September
2016 in the previous session.
edited by kcontents
Gold prices held steady on Wednesday, supported by geopolitical tensions over North Korea and expectations that low inflation in the United States could delay another interest rate hike there.
Spot gold was nearly unchanged at $1,338.10 per ounce by 0641 GMT, after touching its highest since September 2016 in the previous session.
US gold futures for December delivery edged 0.1-per cent lower to $1,343.40.
source Kitco
edited by kcontents
"We're being driven by headlines and a weaker dollar and not necessarily by fundamental reasons, so I'm a little cautious of these levels," said Jeffrey Halley, a senior market analyst at OANDA.
"I think headlines regarding the Korean peninsula could cause short-term spikes but it wouldn't surprise me if gold ran out of a bit of momentum."
A top North Korean diplomat on Tuesday warned that his country was ready to send "more gift packages" to the United States as world powers struggled for a response to Pyongyang's latest nuclear weapons test.
The dollar edged down against the yen on Wednesday, pushed back toward a recent 4-1/2-month low by the simmering tensions over North Korea and by comments from a Federal Reserve official about subdued US inflation.
Fed policymakers signalled caution on weak inflation and a few backed delaying further interest rate hikes.
Higher interest rates tend to boost the dollar and push up bond yields, putting pressure on gold prices by increasing the opportunity cost of holding n ..
Read more at:
kcontents
.
