Gold Steady After Overnight Boost as Dollar Falls BY TRADELINECOMMODITY.COM CALL/WHATSAPP KHUSHBU GARG 9719098555/7505478627 www.tradelinecommodity.com
Gold was steady on Thursday morning in Asia after a rapid rise overnight. A fall in the dollar and a volatile stock market situation set the stage for the initial rise.
Gold futures inched up 0.06% to $1,956 by 12:05 AM ET (5:05 AM GMT).
A rally in U.S. tech stocks boosted the precious metal’s rise during the previous session, pulling it up from a low of $1,927.20 to an overnight high of $1,959.35. The dollar fell due to increased gains in the euro after the European Central Bank (ECB) expressed confidence in the E.U.’s recovery outlook, adding impetus to gold’s rise. The ECB is due to meet later in the day where it will hand down its rate decision. However, markets in Asia showed only slight gains in morning trade, as the U.S. rally had already been priced in
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