Gold Prices Hit 15 Month High

May. 02, 2016 09:53AM PST

Gold prices hit a 15-month high on Monday, Reuters reported, as the US dollar moved even lower. Early in the day, gold hit a peak of $1,299.90 per ounce. As quoted in the publication: Many Asian markets and London were closed on Monday for national holidays, dampening momentum in the precious metal, which posted its …

Gold prices hit a 15-month high on Monday, Reuters reported, as the US dollar moved even lower. Early in the day, gold hit a peak of $1,299.90 per ounce.
As quoted in the publication:

Many Asian markets and London were closed on Monday for national holidays, dampening momentum in the precious metal, which posted its biggest weekly rally since early February last week, up more than 5%.
That was chiefly driven by weakness in the dollar, which posted its worst week since 2008 versus the Japanese yen after the Bank of Japan unexpectedly opted against further monetary easing. The U.S. unit stayed on the back foot on Monday.

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