Gold News

Gold climbs higher as the dollar weakens and investors look for an alternative

Gold climbs higher as the dollar weakens and investors look for an alternative

Gold tracked the euro higher on Tuesday as uncertainty about the timing and pace of monetary tightening in the United States drove off some investors. Trading was lacklustre before this week’s testimony from the head of the U.S. Federal Reserve, which could set the tone for the greenback. “We think there is still scope for the dollar to rally further on the back of uncertainties in Greece,” said David Barclay, commodity strategist at Standard Chartered in Hong Kong. Gold is trading at $1,118 as of 8:02am, GMT, with a bullish trend. Gold