Gold Edges Up to $1225 on Weaker Dollar

Gold rose on Thursday, lifting from a five-week low hit in earlier trade, helped by a lower dollar, Sweden’s surprise decision to launch monetary stimulus and heightened uncertainty over Greece’s debt.

Spot gold fell to its lowest since Jan. 9 at $1,216.45 an ounce, before recovering to trade up 0.3 percent at $1,223 per ounce. U.S. gold for April delivery edged up 0.2 percent at $1,222 an ounce.

“The only thing that is pushing up gold a little bit is the lower dollar after the BoJ media report and also the Riksbank’s aggressive monetary action,” ABN Amro analyst Georgette Boele said.

CNBC

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