Alexa
  • Directory of Taiwan

Gold dips back below $1,100 as dollar rises

Gold dips back below $1,100 as dollar rises

Gold and other metals have fallen in response to a stronger dollar, while energy futures are slightly higher.
Gold prices halted a three-day winning streak Tuesday, falling below $1,100 as the dollar rose against other currencies. Gold for February delivery closed down $9.80 at $1,098.10 an ounce on the New York Mercantile Exchange.
When the dollar rises, investors often sell the metal, which is seen as a hedge against a weak greenback.
Investors have been buying dollars in recent weeks as their confidence in the U.S. economic recovery grows.
Other metals have followed gold prices. And oil prices have advanced for a fifth day, adding 10 cents to $78.87 a barrel.


Updated : 2021-05-14 10:10 GMT+08:00