Gold Steady, Dollar Hovers At Near Nine-Month Lows
Gold held steady early Monday, ahead of the U.S. Independence day holiday, as the dollar hovered at near nine-month lows hit last week on signs of monetary tightening by global central banks. Spot gold was nearly flat at $1,241.04 per ounce at 0043 GMT. It fell over 2 percent in the month of June, its first monthly decline this year. US gold futures for August delivery fell 0.1 percent to $1,240.80 per ounce.
The dollar edged off a nine-month low against a basket of currencies early on Monday, but it remained shaky as expectations of central banks in Europe moving away from accommodative monetary policies supported peers like the euro and sterling. Holdings at the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.14 percent to 852.50 tonnes on Friday from 853.68 tonnes on Thursday. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and call : 8817774774
Gold held steady early Monday, ahead of the U.S. Independence day holiday, as the dollar hovered at near nine-month lows hit last week on signs of monetary tightening by global central banks. Spot gold was nearly flat at $1,241.04 per ounce at 0043 GMT. It fell over 2 percent in the month of June, its first monthly decline this year. US gold futures for August delivery fell 0.1 percent to $1,240.80 per ounce.
The dollar edged off a nine-month low against a basket of currencies early on Monday, but it remained shaky as expectations of central banks in Europe moving away from accommodative monetary policies supported peers like the euro and sterling. Holdings at the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.14 percent to 852.50 tonnes on Friday from 853.68 tonnes on Thursday. For More Information About Commodity Trading Tips Please Visit : www.paceresearchindia.com and call : 8817774774
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