Home / Market Update / Commodities / Gold is in a Narrow Range Near $ 1,800 Amid Uncertainty of Stimulus

Gold is in a Narrow Range Near $ 1,800 Amid Uncertainty of Stimulus

Gold prices held within a narrow range near the key $1800 level as lower US inflation data fueled doubts about the time frame for the Federal Reserve’s move to cut stimulus measures.

Spot gold fell 0.2 percent to $1,800.3 an ounce by 0904 GMT, but was slightly below a week’s peak reached on Tuesday at $1,808.50, in part because the dollar recovered somewhat from its losses as a result of inflation data.

And gold futures in the United States fell 0.3 percent to $ 1801.80.

A strong dollar increases the cost of the yellow metal to holders of other currencies.

Check Also

US NFP Rises by 73,000 in July, Falling Short of 110,000 Forecast

Job growth in the United States moderated in July, with nonfarm payrolls increasing by 73,000, …