(Bloomberg) -- Gold slipped from close to last week’s all time high as the dollar strengthened, making the precious metal more expensive for most buyers.Most...
-- Gold slipped from close to last week’s all time high as the dollar strengthened, making the precious metal more expensive for most buyers.Bullion fell as much as 1.1% as the dollar inched up amid speculation investors are buying the US currency for month-end portfolio re-balancing. Gold is still trading near $2,500 an ounce after gaining 1.6% in the prior three sessions.
The report is forecast to show the three-month annualized rate of core inflation fell to 2.1%, just above the central bank’s 2% goal. Lower interest rates are often seen as positive for non-interest bearing gold. Spot gold was down 1% to $2,498.36 an ounce at 1:23 p.m. in London. The Bloomberg Dollar Spot Index climbed 0.4%. Silver, palladium and platinum declined.Spain proposes Energy Minister Ribera for EU Commissioner post
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