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Spot gold prices were higher again on Thursday on the back of a weaker US dollar, MarketWatch reported.
Spot gold prices were higher again on Thursday on the back of a weaker US dollar, MarketWatch reported.
As quoted in the publication:
Spot gold was up 0.2% at $1,071.80 a troy ounce in morning European trade, moving within a narrow $5 range between $1,069.96 an ounce and $1,074.57 an ounce.
A weaker dollar tends to take the pressure off gold, which is priced in the U.S. currency and becomes less expensive to foreign buyers when the dollar appreciates.
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For more information on the gold price, see A Brief Overview of the Gold Price Today.