Gold News

The dollar was trading low against a basket of currencies on Tuesday, after hitting a six-week low against the euro of $1.4250

Gold hits $950 an ounce as the dollar slumped yesterday

The dollar was trading low against a basket of currencies on Tuesday, after hitting a six-week low against the euro of $1.4250

Gold prices steadied near $950 on Tuesday, with the greenback continuing to drive bullion as its drop and better U.S. corporate earnings raised the metal’s appeal as an inflation hedge and safe haven. The dollar was trading low against a basket of currencies on Tuesday, after hitting a six-week low against the euro of $1.4250. Investment flows into gold-backed exchange-traded funds were slow, with holdings at the world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust, staying unchanged at 1,094.54 tons as of July 20. Gold is trading at $950 as of 9:18am, London Time. Gold