Gold eased early on Wednesday but managed to retain most of its overnight gains to trade close to the key $1,200-an-ounce level on a weaker dollar.
Spot gold had slipped 0.3 percent to $1,194.20 an ounce by 0027 GMT. The metal jumped to a near three-week high of $1,204.70 on Tuesday and closed up about 1 percent.
Gold got a boost from a softer dollar, which fell against the euro on a better than expected survey of German sentiment. Investors are eyeing the Bank of Japan’s policy meeting later today to see how the greenback and yen will be impacted.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015