Gold rises above $1,140/oz to fresh 3-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - Gold prices advanced on Wednesday as the US dollar weakened across the board, with spot reaching its highest level since October 30th at $1,145 an ounce, before correcting slightly. The yellow metal ended the day at $1,141 an ounce, its highest close in over three months.

    There were no clear catalysts for the slump witnessed in the US dollar, although dovish comments from Fed’s Dudley ignited the downward move at the beginning of the New York session, while disappointing ISM services PMI fueled the decline.
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