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FX.co ★ Gold Rises As Dollar Weakens

Gold Rises As Dollar Weakens

Gold edged higher on Thursday, though the upside remained capped by expectations that the Federal Reserve could accelerate stimulus tapering.

Spot gold edged up 0.2 percent to $1,792.05 per ounce, while U.S. gold futures were up 0.4 percent at $1,791.35.

The dollar slipped from a 17-month high as traders react to strong U.S. economic data released overnight and the minutes from the Fed's meeting held in early November.

The minutes showed members were concerned about inflation and willing to tighten policy if inflation continues to run high.

U.S. Treasuries will not trade today because of the Thanksgiving holiday. U.S. stock markets will also be closed and will have a shortened session on Friday.

In European government debt markets, German bund yields dipped slightly after Social Democrat and former finance minister Olaf Scholz struck a three-way coalition deal that will see him replace Angela Merkel at the helm of Europe's largest economy.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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