LocalNews

Gold steadies

Gold steadied yesterday as the dollar trod water against a basket of currencies, with investors reticent to bid up the metal in the face of looming US interest rate increases and escalating Sino-US trade tensions. Since its April peak gold has dropped more than 12 percent as a trade war between China and the US has driven investors to seek safety in the dollar rather than in gold, a traditional safe haven. Spot gold dipped 0.1 percent to $1 194,55 an ounce at 1144 GMT while US gold futures were flat at $1 199,70. (Reuters) Extracted from the Zimbabwe National Chamber of Commerce (ZNCC) Economic Report.

Show More

Related Articles

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Close