Gold Continues To Climb On Weak Dollar And Low Interest Rates : LIVE NEWS UPDATE BY ROYAL TRADERS


 Gold was up on Friday morning in Asia, continuing its record-setting climb powered by a weak dollar and low interest rates.

Gold futures climbed 1.10% to $1,963.60 by 12:04 PM ET (5:04 AM GMT).

Gold prices are likely to be supported for quite some time by low interest rates, particularly in the U.S., where the Federal Reserve’s Open Market Committee decided on Wednesday to keep its benchmark interest rates steady at near zero.

Weakness in the dollar is also pushing gold up. The greenback was down again on Friday morning after the U.S. reported that its economy shrank in the second quarter by 32.9%, the biggest contraction since at least the Second World War.

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