Gold Consolidates Above $2,500 amid Weaker U.S. Currency

  • International
  • 20 August 2024
1

Gold prices settled above $2,500 an ounce on Tuesday, supported by the weakness of the US currency and Treasury bond yields. Traders await the minutes of the Federal Reserve's latest monetary policy meeting for further signals on interest rate cuts.

Spot gold rose 0.1 percent to $2,505.92 an ounce. Prices hit an all-time high of $2,509.65 on Friday. U.S. gold futures rose 0.1 percent to $2,543.90.

Source (Al Arabiya.net Website, Edited)

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