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Gold Prices Climb as Dollar Remains Under Pressure

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Post  Admin Fri Nov 24, 2017 8:51 am

Gold prices increased on Friday as the dollar remains on the back foot following minutes of the U.S. Federal Reserve's meeting, as it showed that some policymakers are concerned about lower inflation. 
Spot gold rose 0.1 percent at $1,291.50 an ounce. Bullion was 0.2 percent lower for the week. U.S. gold futures for December delivery fell 0.1 percent to $1,291.10. “Investor appetite for the precious metal is low even after slightly more dovish-than-expected Fed minutes. There just has not been enough to entice investors back into the market in great amounts," according to ANZ analyst Daniel Hynes. 
Spot gold has cancelled a bearish target at $1,283 per ounce as it appears to have found support at $1,288 and is biased to break above a resistance at $1,296, according to Reuters


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