KONTAN.CO.ID - JAKARTA. Gold prices rose to more than one-week high on Monday, buoyed by a weaker U.S. dollar and ahead of U.S. Federal Reserve Chair Jerome Powell's speech later this week that could give clues on the monetary policy outlook. Spot gold was flat at $1,755.38 per ounce, as of 1258 GMT, after hitting its highest since Nov. 18 earlier in the session. U.S. gold futures edged 0.1% higher to $1,755 per ounce. "The dollar turning a touch lower is helping gold prices now," independent analyst Ross Norman said, adding if protests in China against strict COVID curbs escalate quickly, it would be positive for the gold market.
Gold at More Than One-Week High as Dollar Slips
KONTAN.CO.ID - JAKARTA. Gold prices rose to more than one-week high on Monday, buoyed by a weaker U.S. dollar and ahead of U.S. Federal Reserve Chair Jerome Powell's speech later this week that could give clues on the monetary policy outlook. Spot gold was flat at $1,755.38 per ounce, as of 1258 GMT, after hitting its highest since Nov. 18 earlier in the session. U.S. gold futures edged 0.1% higher to $1,755 per ounce. "The dollar turning a touch lower is helping gold prices now," independent analyst Ross Norman said, adding if protests in China against strict COVID curbs escalate quickly, it would be positive for the gold market.