Gold hits 6-week low | The Daily Star
12:00 AM, May 05, 2017 / LAST MODIFIED: 12:00 AM, May 05, 2017

Gold hits 6-week low

Gold prices tumbled to six-week lows on Thursday, under pressure from a strengthening dollar on expectations of further US rate rises this year and receding political uncertainty in Europe.

Spot gold was down 0.3 percent to $1,234.88 an ounce at 1016 GMT after touching $1,232.60, its lowest since March 21. The dollar strengthened after the US Federal Reserve played down any threats to the planned rises in interest rates.

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