Gold prices are on track for a
August gold futures rose $0.40, or 0.06%, to $1,254.60 per ounce at 16:34 GMT on Monday. The precious metal is trading at its highest level since June 23 and has advanced 8%
Silver, the sister commodity to gold, has remain unchanged to kick off the trading week. September silver futures dipped $0.002, or 0.01%, to $16.45 an ounce. The white metal posted a 3.1% weekly advance last week.
The precious metals are benefiting from a weaker US dollar as the greenback rose a tepid 0.1%. The US dollar has tumbled as much as 2%
Many traders believe the US central bank may pause its rate hike momentum for the time being. With the Federal Open Market Committee (FOMC) holding a policy meeting this week, it is expected that the Fed will hold off on a rate hike until at least September, possibly even into December. The Fed has raised rates three times in the last seven months. Gold is generally sensitive to a
Over the last couple of months, investors have gradually dumped a majority of
Washington was rocked last week when Press Secretary Sean Spicer resigned from his position over his rejection of President Donald Trump hiring Anthony Scaramucci as communications director. Moreover, the Republicans’ healthcare legislation does not seem to satisfy the repeal crowd, and there are still many allegations running wild on Capitol Hill of
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