You are here: Home » International » News » Economy
Business Standard

Gold price firms on softer dollar but narrow range holds

It is highly sensitive to rising U.S. interest rates, which increase the opportunity cost of holding non-yielding bullion

Reuters  |  London 

The price of gold edged higher on Wednesday as a retreat in the dollar lent support but it remained hemmed within the narrowest monthly range since 2005 as soaring stock markets indicated buoyant appetite for more cyclical assets. World stocks hit fresh highs on Wednesday on signs of progress with U.S. tax cuts and Europe's Brexit negotiations. The dollar meanwhile fell as German inflation data pointed to another uptick for Europe's largest economy, boosting the euro. Spot gold was up 0.1 percent at $1,294.57 an ounce at 1030 GMT, while U.S. gold futures for December ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, November 29 2017. 17:04 IST