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Reuters reported that gold prices have continued to fall to near six year lows on a stronger US dollar. Investors are still wary of a possible interest rate hike from the US Federal Reserve, according to the publication.
Reuters reported that gold prices have continued to fall to near six year lows on a stronger US dollar. Investors are still wary of a possible interest rate hike from the US Federal Reserve, according to the publication.
As quoted in the market news:
The U.S. currency was also supported against the euro, weighing on dollar-denominated gold, as European Central Bank officials told Reuters they were considering options such as whether to stagger charges on banks hoarding cash or to buy more debt. The ECB meets next week.
Spot gold was unchanged on the day at $1,070.76 an ounce by 1505 GMT, not far off the $1,064.95 hit last week, its lowest since February 2010.
