Gold up on weak US dollar
07/09/2016 08:53
Gold futures closed higher in the international market on Tuesday as a fall in the U.S. service-sector index to its weakest level in over six years appeared to diminish the likelihood of a U.S. interest-rate hike this month, fueling a drop in the dollar. The debate over the speed and aggressiveness of Fed interest-rate changes has been pinned to each economic release but the payrolls report carried additional weight for financial markets. Prospects for higher interest rates can boost the dollar and dull the appeal of greenback-priced gold. Rising rates also can turn off investors from precious metals, which don’t bear a yield.
07/09/2016 08:53
