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Gold extends rally seen on dovish Fed even as dollar stabilizes


Thursday, 21 March 2019 19:36 WIB

GOLDEMAS


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Gold prices shot higher early Thursday, resuming the climb seen in after-hours electronic trading when the U.S. dollar weakened in the wake of the Federal Reserve’s dovish policy statement.

The dollar gave back much of its post-Fed loss by early Thursday, although the precious metals that are priced in the U.S. unit maintained their rally.

Gold for April delivery rose $14, or 1.1%, at $1,315.70 an ounce on Comex, about where it stood in reaction to the Fed release.

The dollar, as measured by the ICE U.S. Dollar Index was up 0.3%. A weaker dollar can boost investment interest in dollar-denominated prices of gold from investors using other currencies, and vice versa.

Source: Marketwatch


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