News Column

Gold edges up, still near 4-week low

July 16, 2014



US gold futures for August delivery gained 0.4 percent to $1,312.30 an ounce.



Gold rose on Tuesday as European equities moved lower, but was still trading near its lowest level in almost four weeks ahead of the Federal Reserve's Chair testimony to US Congress that should give more clues about the timing of an interest rate hike. Spot gold was up 0.4 per cent at $1,311.90 an ounce by 1021 GMT, after falling more than two per cent, its biggest daily drop since December, on Monday, when it touched its weakest since June 19 at $1,302.90. US gold futures for August delivery gained 0.4 percent to $1,312.30 an ounce.







Compiled from Reuters


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Source: Khaleej Times (United Arab Emirates)


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