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Gold up as Fed stance pricks dollar, stocks rally cap gains


Monday, 7 January 2019 10:54 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold rose on Monday, helped by a weaker dollar on expectations that the U.S. Federal Reserve might apply brakes on its monetary tightening cycle in 2019, although an improved risk appetite limited gains for the safe haven metal.

Spot gold was up 0.3 percent at $1,288.60 per ounce, as of 03:06 GMT and U.S. gold futures gained about 0.4 percent to $1,290.70 per ounce.

U.S. Fed chairman Jerome Powell said on Friday that he was aware of the risks related to an economic slowdown and would be patient and flexible in policy decisions this year.

The dollar index, which tracks the U.S. currency against six major peers, fell 0.2 percent.

Investors had expected the Fed to stay on its tightening path after three hikes last year, but the ongoing trade war and recent disappointing corporate earnings have put those expectations to rest.

Source: Reuters


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