Gold higher as dollar nicked by economic agenda uncertainty
Wednesday, Aug 23, 2017 05:19 by InvestingPie

Gold prices recovered Wednesday, aiming for a return to the nearly three-month high hit to start the week, as a wobbly dollar supported the yellow metal.

Gold for December delivery GCZ7, +0.37%  rose $2.40, or 0.3%, to $1,294.20 an ounce. The greenback, as measured by the ICE U.S. Dollar Index DXY, -0.26% fell 0.2%. A weaker U.S. currency tends to boost dollar-denominated gold prices.

Gold futures settled at $1,296.70 on Monday—the highest settlement since early June. Last week, the contract briefly jumped above $1,300 for the first time this year, in part as concerns about President Donald Trump’s pro-business agenda helped to spark a rush to haven assets including gold. That returned as a market theme on Wednesday.

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Very informative
05-03 04:23 by Liam
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