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[size=36]Gold is stable amid the dollar's decline[/size]
Economy | 09:42 - 03/04/2019
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stabilized the price of gold, on Wednesday, due to the dollar 's decline, after recovering from the lowest level in four weeks during the previous meeting, even with the fading demand for the metal as a safe haven because of the wave of gains stocks rallied to their highest levels in several months.
At 0545 GMT, gold was little changed at $ 1293.33 an ounce, having touched its lowest level since March 7 at $ 1284.76 in the previous session. US gold futures rose 0.2 percent to $ 1297.70 an ounce.
The dollar index fell about 0.2 percent, reducing the cost of gold on other currency traders.
"There will be little movement in gold prices as equities rise to high levels in Asia and investors do not view gold as a good safe haven," said Brian Lan, managing director of Gold Silver Central in Singapore.
Asian stocks rose to a seven-month high as investors welcomed signs of progress in US-China trade talks and strong economic data.
Palladium increased 0.1 percent in spot transactions to $ 1430.34 an ounce.
Silver rose 0.5 percent to $ 15.18 an ounce after touching its lowest level since late December at $ 14.90 in the previous session, while platinum rose 1.5 percent to $ 858.53.
stabilized the price of gold, on Wednesday, due to the dollar 's decline, after recovering from the lowest level in four weeks during the previous meeting, even with the fading demand for the metal as a safe haven because of the wave of gains stocks rallied to their highest levels in several months.
At 0545 GMT, gold was little changed at $ 1293.33 an ounce, having touched its lowest level since March 7 at $ 1284.76 in the previous session. US gold futures rose 0.2 percent to $ 1297.70 an ounce.
The dollar index fell about 0.2 percent, reducing the cost of gold on other currency traders.
"There will be little movement in gold prices as equities rise to high levels in Asia and investors do not view gold as a good safe haven," said Brian Lan, managing director of Gold Silver Central in Singapore.
Asian stocks rose to a seven-month high as investors welcomed signs of progress in US-China trade talks and strong economic data.
Palladium increased 0.1 percent in spot transactions to $ 1430.34 an ounce.
Silver rose 0.5 percent to $ 15.18 an ounce after touching its lowest level since late December at $ 14.90 in the previous session, while platinum rose 1.5 percent to $ 858.53.
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