adminchanged against six major currencies, rebounding from a loss of as much as 0,4 percent. Gold typically moves inversely to the greenback.
While Federal Reserve policy makers neared agreement on the sequence of tools they will use to withdraw record monetary stimulus, they said talks about the exit strategy don’t mean that tightening “would necessarily begin soon”.
“The dollar has gained a bit of strength” and that’s pressuring gold, Dan Smith, an analyst at Standard Chartered Plc in London, said. “Gold is looking for another reason to break higher. It lacks a trigger.”
Immediate-delivery gold fell US$5,60, or 0,4 percent, to US$1 491,55 an ounce in London.
Gold for June delivery was 0,3 percent lower at US$1 491 an ounce on the Comex in New York.
The Fed should first end its policy of reinvesting proceeds from maturing securities and later raise interest rates and sell assets, majorities of policymakers said at their April 26-27 meeting, according to minutes released yesterday. – Bloomberg.
Online Reporter
- Herald
- July 31, 2026
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