Dollar Dip Pushes Gold Futures to $1,254.30
Gold prices increased for a third straight day on July 10 as the dollar slipped slightly.
Gold prices increased for a third straight day on July 10 as the dollar slipped slightly. Traders are waiting to see the minutes from last month’s U.S. Federal Reserve meeting, which should give clues regarding the central bank’s plan for its stimulus program.
Gold for August delivery on the COMEX rose $8.50 to $1,254.30, while spot gold increased by $8.80 to $1,257.41.
According to Reuters, some traders believe gold may see support if the Fed opts to taper its stimulus package at the end of the year, as opposed to in September, though others believe it will make no difference.