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Gold is recovering from a 6-week low as the dollar falls
09:59 - 29/09/2017
Information / follow-up ...
Gold recovered from a six-week low as the dollar turned lower, prompting investors to buy to cover city centers.
Earlier in the session, the precious metal was under pressure from proposed US tax reforms and strong economic data that reinforced the rationale for further US interest rates this year.
Spot gold rose 0.5 percent to $ 1286.60 an ounce in late trading in the US market after falling earlier in the session to its lowest level since Aug. 16 at $ 1277.26.
US gold futures for December delivery rose 0.07 percent to settle at $ 1288.70 an ounce after touching a five-week low of $ 1280.40.
The dollar turned down from a six-week high while 10-year Treasury yields stabilized after rising to a two and a half month high.
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