Gold slips on profit-taking, aiding dollar recovery
The dollar has been falling almost across the board, reaching a two-year low against a basket of currencies at 93.416 before recovering to 93.975
28 July 2020 - 11:49
London/Sydney — Gold hit a record high on Tuesday before the sheer scale of its gains drew a burst of profit-taking, which, in turn, helped the dollar from two-year lows and kept equity markets steady.
The precious metal had risen almost $40 higher at one point to reach $1,980/oz. A wave of selling pushed back to $1,915 in volatile trade...
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.