Gold jumps to 5 month peak as dollar tanks due to Trump’s comments
The yellow metal jumped to a 5 month high on Thursday as the U.S. Dollar slipped, followed by Donald Trump’s comments that he prefers lower interest rates with the greenback getting too strong, as also due to the rising worries over U.S. relations with Russia and North Korea.
By 0100 GMT, Spot Gold was up by 0.1 % at $1286.80 per ounce, after touching the strongest since November 10 at $1287.31
U.S. Gold futures inched up 0.8% to $1287.90.
Chinese President, Xi Jinping, on previous day stressed on need for peaceful solution for Korean peninsula on a call with U.S. President, Donald Trump.
U.S. import prices witnessed their biggest drop in 7 months in March, as the cost of petroleum declined, but the underlying trend indicated a moderate rise in import inflation as the dollar rally fades.