Gold Prices Fluctuate, Jolted by Dollar


Gold prices fluctuated between gains and losses due to the weaker U.S. dollar and climbing stock markets. Spot gold fell 0.02 percent at $1,225.08 per troy ounce.

The precious metal was near above a five-month low with gold declining sharply as equity markets and other commodities gained after the election of Donald Trump last week. Gold prices await the timing of the next rate hike by the Federal Reserve. Fed fund futures implied an 86 percent likelihood of a rate hike in December, according to the CME. Bullion for immediate delivery was up 0.1 percent to $1,223.08 per ounce, according to Bloomberg generic pricing. Holdings in gold-backed exchange-traded funds was down 4.88 metric tons to 1,966.3 tons, as stated in data compiled by Bloomberg.

Other precious metals were mixed. Silver was slightly unchanged at $17.04 per troy ounce. Platinum fell 0.24 percent at $942.24 per troy ounce while palladium rose 0.79 percent at $704.75 per troy ounce.


News are provided by Instaforex