Gold Rises on Weakness in US Dollar

Posted By: Religare
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Gold futures closed higher in the international market on Thursday buoyed by some weakness in the U.S. dollar as investors weighed the impact of the Bank of England's first interest-rate increase in a decade, the release of the U.S. tax reform bill and President Donald Trump's presumed pick to lead the U.S. Federal Reserve.

Gold Rises on Weakness in US Dollar

Investors expect Fed Gov. Jerome Powell to be officially nominated as the next chairman of the Fed. He's seen as being dovish—favors waiting for more substantial interest-rate tightening until inflation creeps higher.

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