Gold edges higher, but firmer dollar caps gains
Iran’s seizure of a UK oil tanker, geopolitical tensions and the Fed eyeing cutting rates are boosting bullion, analyst says, but people worry about the stronger greenback
22 July 2019 - 08:10
Bengaluru — Gold prices gained on Monday following a steep fall in the previous session as tensions in the Middle East and weaker financial markets supported the metal, while a stronger dollar kept a lid on gains.
Spot gold was up 0.2% at $1,427.26 per ounce in early-morning trading. The metal hit $1,452.60 in the previous session, its highest since May 2013, before closing 1.5% lower...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.