Gold Remains Below $1145 on Fed Plans

Gold fell to an eight-month low on Thursday after the U.S. Federal Reserve’s reiteration that interest rates were likely to rise this year pushed the dollar index to a seven-week high.

Stocks worldwide rose on strong corporate earnings reports and relief over Greece’s debt issues. The Greek parliament passed the austerity measures demanded by lenders to open talks on a multi-billion-euro bailout, diverting some attention from gold.

Platinum hit its lowest since February 2009 at $1,000.25 an ounce, hurt by perceptions of plentiful supply. Top producer Anglo American Platinum said its output rose 60 percent in the second quarter.


This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.