Gold rose on Wednesday as the dollar weakened and treasury yields ticked lower amid uncertainty around the timing of a US rate increase. Spot gold gained 0.6 per cent to $1,270.11 an ounce at 0944 GMT. US gold futures rose $9 to $1,271.80 an ounce. Spot prices had shed about 7 per cent over the past three weeks, as markets re-priced the likelihood of a Federal Reserve's rate hike in December. The metal is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets. However, a retreat in the dollar, which fell 0.3 per cent ...
Gold benefits from lower dollar on Fed rate hike uncertainty
Spot gold gained 0.6 per cent to $1,270.11 and US gold futures rose $9 to $1,271.80 an ounce