Gold prices lift as US dollar softens
Monday, 13 October 2014
Gold prices in Europe rose on Monday, with the dollar softening as the US enjoyed a national holiday. Spot gold was trading at $US1,230.40 a troy ounce, up 0.6 per cent, in morning European trade. ‘We have seen a resumption of dollar and stock market weakness, in reaction to various comments from Fed [US Federal Reserve] officials over the last few days about slowing global growth concerns and also in reaction to actual signs of that growth slowing, especially in Europe,’ said David Govett at Marex Spectron. Gold reached a peak of $US1,237.80, a four-week high, and most of the other precious metals ‘made gains in gold's slipstream,’ said Commerzbank, according to theaustralian.com