Forex
Gold Rises as Weaker Dollar and Easing Inflation Boost Bullion Prices
The price of gold rose by one percent on Thursday to $4,104.59 per ounce as the US dollar weakened and inflation eased.
The US dollar fell by 0.80% as the yen strengthened, making greenback-priced bullion more affordable for buyers overseas.
Traders dialled back bets on interest rate hikes after Federal Reserve Chair Kevin Warsh offered little clarity on policy in a statement that left markets confused about what he was prepared to do.
The Fed on Wednesday left interest rates unchanged, but traders still see a 61% chance of a rate hike at the September 15-16 meeting, down from about 77% before the Fed meeting.