You are here: Home » Reuters » News
Business Standard

Gold rises as weak U.S. data dampens rate hike expectations


By Peter HobsonREUTERS - Gold rose as U.S. political turmoil, a missile test by North Korea and a worldwide cyber attack fuelled demand for safe-haven assets, while weaker than expected U.S. data pushed the dollar lower, making gold cheaper for holders of other currencies.Spot gold was up 0.4 percent at $1,233.69 an ounce at 1348 GMT on Monday, on track for a third day of gains after hitting an eight-week low of $1,213.81 last week. U.S. gold futures gained 0.5 percent to $1,233.60."Continued unpredictability of the Trump administration, North Korea flexing its muscles again and weaker data ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, May 15 2017. 19:33 IST