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Gold hits 6-month peak on dollar dip, bets of Fed’s rate-hike pause

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Published Tue, Nov 28, 2023 · 11:23 AM
    • Spot gold rose 0.1 per cent to US$2,015.65 per ounce by 0243 GMT on Tuesday.
    • Spot gold rose 0.1 per cent to US$2,015.65 per ounce by 0243 GMT on Tuesday. PHOTO: CMG

    GOLD prices climbed to a six-month peak on Tuesday, buoyed by expectations that an end to the US Federal Reserve’s interest rate hike cycle would keep the dollar and yields under check.

    Spot gold rose 0.1 per cent to US$2,015.65 per ounce by 0243 GMT.

    US gold futures for December delivery rose 0.2 per cent to US$2,016.10 per ounce.

    The dollar index touched a near three-month low, against its rivals, making gold less expensive for other currency holders.

    Spot silver gained 0.1 per cent to US$24.65 per ounce, platinum was up 0.1 per cent to US$919.70. Palladium rose 0.1 per cent to US$1,068.94 per ounce. REUTERS

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