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Gold gains to 4-month high as dollar sinks
Wednesday, 10 January 2018 20:11 WIB | PRECIOUS METALS |GOLDEMASEmas berjangka

Gold prices shot higher Wednesday, trading at their highest in nearly four months, as the dollar tumbled against major rivals and offset a gold-negative rise in bond yields.

February gold advanced $11.60, or 0.9%, to $1,325.30 an ounce, holding above the psychologically significant level of $1,300, which it reclaimed in late December, and snapping what had been back-to-back declines. The exchange-traded SPDR Gold Shares was up 0.7% premarket.

The ICE U.S. Dollar Index”a gauge of the greenback against a half-dozen rivals”slid 0.6%, wiping out a three-session uptrend for the currency.

The dollar fell more than 1% against the yen after the Bank of Japan™s move this week to trim long-dated government bond purchases. That set up the U.S. currency for its biggest two-day pullback against the yen in some eight months.

Source: Marketwatch

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