Gold sprints to nine-year peak on softer dollar
The metal jumps as the expectation of more stimulus to resuscitate pandemic-hit economies lifts its appeal as an inflation-hedge
22 July 2020 - 08:49
Bengaluru — Gold jumped more than 1% on Wednesday to its highest in nearly nine years, driven by a weaker dollar and as the expectation of more stimulus to resuscitate pandemic-hit economies lifted the metal’s appeal as an inflation-hedge.
Spot gold was up 0.9% at $1,857.86/oz by 2.32am GMT, after hitting its highest since September 2011 at $1,865.35/oz earlier in the session. US gold futures rose 0.8% to $1,858.20...
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