Gold Futures Settle At 6-week High
WASHINGTON (dpa-AFX) - Gold prices moved higher on Thursday and lifted the most active gold futures contract to a six-week high, thanks to a weak dollar and on expectations inflation will rise in coming months.
The Federal Reserve Chairman Jerome Powell s comments that the bank would like to see actual evidence of economic growth before considering any policy tightening. He also reiterated expectations that an anticipated rise in inflation this year would be temporary.
The dollar index drifted down to 92.00, losing more than 0.5%. The index was last seen at 92.07, down by about 0.4%.
The drop in the yield from U.S. 10-year Treasury Note contributed as well to gold s uptick.
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