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Gold gains as dollar dips and the uncertainty around Brexit
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Loading...Gold gains as dollar dips and the uncertainty surrounding Brexit
Gold gained profits after the dollar collapsed as a result of US inflation figures that supported the Federal Reserve's hold on for interest rate hikes while investors expected a key Brexit vote later in the day.
The main reasons for Gold to breakthrough the psychical barrier of $1300 are the weakness of the dollar index, as well as the uncertainty surrounding Brexit.
The dollar fell versus major currencies following the data, bolstering appeal for bullion.
The data supports low and seamless inflation in major global economies that allows central banks to maintain low interest rates, which has led to an improvement in gold and silver markets that have benefited from predictions of a modest monetary policy.
Demand for safe havens remains within normal limits ... for now, but Brexit without a deal can cause more demand for these assets.
Trader Georgi Bozhidarov Read more:
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