[ad_1]
BANGALORE: Gold prices hit their highest level for four weeks on Wednesday, after the seven-month low reached in the previous session, as the dollar boosted demand for metal yellow, dropped.
Spot trading rose 0.6% to 1260.06 dollars an ounce at 7:12 GMT, after hitting a week – high of 1261.10 dollars an ounce
The yellow metal rebounded by more than $ 20 from Tuesday 's low of $ 1237.32 an ounce, its lowest level since December 12.
Rose Gold The American futures for August yield 0.6% to 1261.30 dollars an ounce.
The dollar index, which measures the greenback's performance against a basket of six major currencies, fell 0.3% to 94,421. US stocks fell on Wednesday as worries about trade tensions between China and the US jumped ahead of import tariffs of $ 1 billion.
Gold is a refuge in a
Among other precious metals, spot silver rose 0.7% to $ 16.13 an ounce and palladium from over 1% at $ 950.80 ounce
Platinum rose 0.1% to $ 837.74 an ounce, fallen Tuesday to its lowest level since December 2008 at $ 793 The ounce
The US markets will remain closed Wednesday for the Independence holidays.
Source link
