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Gold rises to near 2-week high as dollar sags amid hopes of continuing low interest rates

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Fed’s new monetary policy strategy suggests its interest rate would stay near zero for years in quest to up inflation

Pure gold ore is shown on the stone floor of a mine. Picture: 123RF/PHAWAT KHOMMAI

“The greenback took a big spill on Friday as market participants digested what was coming out of the Jackson Hole Symposium, and the knock-on benefits to gold are still being felt,” said IG Markets analyst Kyle Rodda. Lower US interest rates put pressure on the dollar and bond yields, increasing the appeal of non-yielding bullion.

 

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Gold rises to near 2-week high as dollar sags amid hopes of continuing low interest ratesFed’s new monetary policy strategy suggests its interest rate would stay near zero for years in quest to up inflation
Source: BDliveSA - 🏆 12. / 63 Read more »

Gold rises to near 2-week high as dollar sags amid hopes of continuing low interest ratesFed’s new monetary policy strategy suggests its interest rate would stay near zero for years in quest to up inflation
Source: BDliveSA - 🏆 12. / 63 Read more »