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Gold holds near six-week lows as dollar firms on robust U.S. data


Friday, 28 September 2018 08:42 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices held close early Friday to near six-week lows hit in the previous session, as the dollar firmed after upbeat U.S. economic data supported the Federal Reserve's resolve for steady interest rate hikes over the next year.

Spot gold was up 0.1 percent to $1,183.58 as of 01:03 GMT. On Thursday, the metal fell about 1 percent and touched its lowest since Aug. 17 at $1,181.61 an ounce.

U.S. gold futures were flat at $1,187.30 an ounce.

The dollar stood tall against its peers on Friday, and hovered near a nine-month high versus the yen.

U.S. economic growth accelerated in the second quarter at its fastest pace in nearly four years as previously estimated, putting the economy on track to hit the Trump administration’s goal of 3 percent annual growth.

Source: Reuters


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