You are here: Home » Reuters » News
Business Standard

Gold steady, poised for more gains on soft U.S. rate outlook

Reuters  |  LONDON 

By Eric OnstadLONDON (Reuters) - Gold was steady on Monday and likely to see further gains after the dollar slumped to multi-month lows on the back of data that pointed to weak U.S. inflation and less prospect of rate hikes. "The dollar continues to be on the back foot and yields have dropped back somewhat from their relatively elevated positioning lately," said analyst Jonathan Butler at Mitsubishi in London.Spot gold was up 0.2 percent to $1,230.51 per ounce at 1006 GMT while U.S. gold futures for August delivery rose 0.2 percent to $1,229.70 per ounce."If gold remains at $1,230 or goes ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Mon, July 17 2017. 15:55 IST
RECOMMENDED FOR YOU