Gold slips to two-week low after US Fed dashes hopes of more rate cuts
01 August 2019 - 07:45
Bengaluru — Gold prices dropped to two-week lows on Thursday after the US Federal Reserve cut rates by 25 basis points as expected but tampered market expectations of a lengthy easing cycle, lifting the dollar to a two-year high.
Spot gold was down 0.2% at $1,410.42/oz as of 2.59am GMT, after falling to its lowest since July 17 at $1,405.50...
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.