Gold rises to almost two-week high as dollar sags
Fed’s new monetary policy strategy suggests its interest rate would stay near zero for years in quest to up inflation
31 August 2020 - 09:10
Bengaluru — Gold prices climbed to their highest level in nearly two weeks on Monday, as the dollar weakened and the US Federal Reserve’s new policy framework suggested that interest rates would remain low for some time.
Spot gold was up 0.3% at $1,969.98 per ounce by 5.04am, after hitting its highest since August 19 at $1,976 in early Asian trade. However, gold was down 0.2% so far this month. US gold futures rose 0.2% to $1,978.70...
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