Gold prices rose May 22 due to a falling US dollar and US Federal Reserve officials diminishing investors' fears that it would reduce its bond-buying program, Reuters reported.
Articles Tagged "spot gold"
Reuters reported that gold rallied slightly on Wednesday, given a boost by solid Chinese demand and by a dollar weakened over concerns from investors about U.S. Federal stimulus.
Gold continued its decline May 21 as the U.S. dollar strengthened and speculation that the U.S. Federal Reserve may reduce its stimulus program rises.
Reuters reported that spot gold reached a low of $1,338.95 per ounce this morning, its lowest price since April 16, pushed down by speculation that the Fed will dial back its economic stimulus program. However, it later rose up to $1,363.40.
Gold prices fell today, putting the metal on track for its longest run of losses since March 2009.
Reuters reported that gold hit a two-week low on Friday, as fewer investors were seeking safe haven in the investment.
CNBC reported that an increase in platinum prices of about 2 percent boosted gold futures to $1,623.
Reuters reported that although gold prices stayed below $1,620 on hesitance regarding the upcoming Federal Open Market Committee and European Central Bank meetings, the metal rose for the second month in a row.
Reuters reported that gold dropped by about 1.5 percent after investors began selling on the announcement that PFGBest is missing $220 million in customer funds.
Reuters reported that the price of gold was up after European leaders struck a deal at their recent summit.