You are here: Home » Reuters » News
Business Standard

Gold jumps on report China considering slower Treasury buys

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold jumped to its highest in nearly four months on Wednesday as a report that Chinese officials had recommended slowing or halting U.S. Treasury purchases sparked a broad-based drop in the dollar, lifting assets priced in the U.S. currency.The dollar, already under pressure versus the yen after the Bank of Japan moved to trim its long-dated government bond purchases earlier this week, slid 0.5 percent versus a currency basket, its biggest one-day drop since end December.Spot gold was up 0.5 percent at $1,318.93 an ounce at 1430 GMT, having earlier touched its ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, January 10 2018. 20:56 IST