Gold edged up on Friday on a softer U.S. dollar and safe haven flows, with the metal en-route for a weekly gain as attention turned to U.S. President-elect Donald Trump's proposed policy changes that could influence the economic and interest rate outlook going forward. Spot gold was up 0.2% at $2,661.19 per ounce, as of 0257 GMT, hitting its highest level since Dec. 13. Bullion is up about 1.6% for the week so far. U.S. gold futures rose 0.2% to $2,675.40. The dollar index DXY fell 0.2%, making dollar-priced bullion more affordable for holders of other currencies. "We have seen an...
A gauge of the dollar weakened for the first time in eight sessions before ISM manufacturing data that's likely to provide more clues on the health of the US economy. Bloomberg Dollar Spot Index slipped 0.1%, with Australia and New Zealand's currencies leading gains against the greenback. "Dollar is getting marginally sold in thin trading as traders try not to over-read markets ahead of ISM," said Christopher Wong, strategist at Oversea-Chinese Banking Corp. "Apart from the small selloff this morning, the dollar remains broadly firmer, with the DXY above 109...
The Australian Dollar (AUD) extends its gains for the second successive session against the US Dollar (USD) on Friday. The AUD gained support following a Financial Times report stating that the People's Bank of China (PBoC) expects an interest rate cut this year at an appropriate time. As close trade partners, any fluctuations in China's economy tend to impact Australian markets. The AUD/USD pair appreciates as the Australian Dollar recovers from two-year lows as stronger commodity prices provide support, particularly Oil and Gold, benefiting Australia's position as a major exporter of...