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Gold rebounds from one-week low as dollar slips
Gold rose more than 1% on Thursday, rebounding from a one-week low hit in the previous session as the US dollar eased, while investors assessed the likelihood of a Federal Reserve interest rate increase this month after a hot inflation report. Spot gold was up 1.3% at $4,158.63 per ounce, as of 0257 GMT, after hitting its lowest since October 7 on Wednesday. US gold futures for December delivery rose 1.8% to $4,180.00 per ounce. The dollar slipped after scaling an 18-month peak overnight. A softer dollar makes greenback-priced bullion more affordable for buyers overseas. “What we’re seei...
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