You are here: Home » Markets » News
Business Standard

Amid dollar weakness, thin trading, gold prices at a three-week high

The dollar index, which tracks the greenback against a basket of six major rivals, edged down 0.1 per cent


Gold prices edged up on Tuesday on low-volume trade to more than three-week highs, helped by a weaker dollar. Spot gold was up 0.3 per cent at $1,278.06 per ounce at 0252 GMT, after hitting its highest since December 1 at $1,279.05. US gold futures rose 0.3 per cent to $1,282.50 an ounce. The futures market was closed for Christmas on Monday and volumes remained extremely thin on Tuesday. Anemic US consumption data on Friday helped gold, while the dollar remained under pressure in thin trading in Asia, said Jeffrey Halley, a senior market analyst at OANDA. "With ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, December 26 2017. 09:06 IST