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Gold price down 1% on strong US economic data
Gold prices declined by 1% on Wednesday as solid US economic data reinforced expectations of the Federal Reserve holding interest rates steady for now, dimming the appeal of the safe-haven metal. By midday ET, spot gold traded at $3,292.75 per ounce, falling below the $3,300-an-ounce level for the first time in a month.
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The current price of gold is the same, all things considered, in other countries. The US gold price is converted to the currency in that country based on the current exchange rate. In other words, ...
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US president Franklin D. Roosevelt famously devalued the US dollar in relation to gold, revaluing gold upwards by 70%, from $20 an ounce (oz) to $35/oz. US gold reserves would increase to ...
Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite ...
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