Gold touched a crisp two-week high on Wednesday as the likelihood of an early US loan cost trek seemed to diminish taking after tentative remarks by Federal Reserve seat Janet Yellen prior this week.
Yellen gave a to a great extent cheery appraisal for the US economy on Monday and said financing cost increments were coming, yet speculators concentrated on her absence of direction about when.
Spot gold was up 0.4% at $1,248.30 an ounce by 0355 GMT. It hit a high of $1,249.20 prior in the session, its most grounded following May 24.
US gold climbed 0.3% to $1,251.20.
"The heading during the current week will be somewhat tranquil (for gold), sitting tight for the FOMC meeting one week from now. Be that as it may, I think nothing is going to change because of frustrating non-ranch finance information," said William Wong, aide head of managing at Wing Fung Precious Metals in Hong Kong.
Read more at: http://dollaradvisory.com
Yellen gave a to a great extent cheery appraisal for the US economy on Monday and said financing cost increments were coming, yet speculators concentrated on her absence of direction about when.
Spot gold was up 0.4% at $1,248.30 an ounce by 0355 GMT. It hit a high of $1,249.20 prior in the session, its most grounded following May 24.
US gold climbed 0.3% to $1,251.20.
"The heading during the current week will be somewhat tranquil (for gold), sitting tight for the FOMC meeting one week from now. Be that as it may, I think nothing is going to change because of frustrating non-ranch finance information," said William Wong, aide head of managing at Wing Fung Precious Metals in Hong Kong.
Read more at: http://dollaradvisory.com
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