News Formal

Gold price rises on softer dollar as market awaits more US data

  • 📰 mining
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 53%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

No 1 source of global mining news and opinion

Gold prices rose nearly 1% on Wednesday on a softer US dollar, with investors shifting focus to economic data due this week for fresh signals on the timing of the Federal Reserve’s rate cuts.

The dollar index, meanwhile, was down 0.2%, making bullion more attractive to buyers holding other currencies. The tech-heavy Nasdaq exchange also took a big hit on Wednesday. Investors are looking forward to the US GDP report for the second quarter due on Thursday, followed by last month’s personal consumption expenditures, for clues on the Fed’s interest rate cut path.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 449. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

3 advantages gold bars and coins have over other gold investment typesThere are several different types of gold you can buy. Find out why you should choose gold bars and coins now.
Source: CBSNews - 🏆 87. / 68 Read more »

Gold vs. Bonds and Stocks: Why Some Investors Choose GoldDespite its reputation as the king of precious metals, during good economic times, gold is not often thought of as an investment.
Source: RollingStone - 🏆 483. / 51 Read more »