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Gold Prices Rise After Worst Week In 2-1/2 Months


Monday, 26 February 2018 09:25 WIB

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Gold prices edged up on early Monday, after declining more than 1 percent last week, as the U.S. dollar steadied following recent gains.

Spot gold rose 0.1 percent at $1,330.59 an ounce at 0118 GMT. Prices fell 1.4 percent for the week ended Feb. 23, the biggest decline in 2-1/2 months.

U.S. gold futures were up 0.1 percent at $1,332.3 per ounce.

The dollar index, which measures the greenback against a basket of currencies, was flat at 89.881.

Rising U.S. Treasury yields, a view that the dollar's selloff had been overdone, and minutes from the Fed's January rate-setting meeting that offered a relatively upbeat tone helped the dollar index gain 0.9 percent last week.

Source: Reuters


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