The Global Resource For Connecting Buyers and Sellers

Gold at highest in a year as rate hike expectations recede

Gold prices rose to their highest in more than a year on Friday as weak economic data reduced expectations of another interest rate increase in the United States this year, U.S. bond yields fell and the dollar plunged to its weakest since early 2015. Demand for U.S. government debt and other safe-haven assets rose after an increase in U.S. jobless claims and worries about the impact of hurricanes Irma and Harvey on economic growth.