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Gold inches higher as U.S. dollar eases


Thursday, 19 July 2018 09:05 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices rose slightly early Thursday, after hitting a one-year low in the previous session, as the U.S. dollar eased off a three-week high.

Spot gold was up 0.1 percent at $1,227.55 an ounce at 00:58 GMT. The metal fell to its lowest since mid-July 2017 at $1,220.81.

U.S. gold futures for August delivery were little changed at $1,227.40 an ounce.

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent at 95.022 after hitting a three-week high of 95.407 on Wednesday.

In a closely watched two-day congressional testimony,  Federal Reserve Chairman Jerome Powell said he believed the United States was on course for years more of steady growth, an carefully played down the risks to the U.S. economy of an escalating trade conflict.

Manufacturers in every one of the Federal Reserve's 12 districts worried about the impact of tariffs, a Federal Reserve report said on Wednesday, even as the U.S. economy continued to expand at a moderate to modest pace.

Source: Reuters


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