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- Gold edges higher on lower U.S. dollar and declining equities
Gold edges higher on lower U.S. dollar and declining equities
Gold prices appreciated a second day currently quoted at USD1,205.90 or +0,3% a troy ounce just above the important level of USD1,200 supported by a broadly weaker greenback after losing -1.1% on Friday after the better-than-expected U.S. labour market data.. Declining equity-indices, weighed down by energy shares after the oil prices further declined and disappointing German data further supported the precious metal. In times of economic uncertainty gold becomes more attractive as a protection of wealth. Markets are awaiting the FED's policy meeting next week to assess when the bank is going to increase benchmark interest rates.
GOLD currently trading at USD1,205.90
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