Gold prices rose slightly on Thursday as the U.S. dollar weakened and concerns over the U.S. budget deficit persisted. Kelvin Wong, an analyst at OANDA, said those factors are supporting gold in the medium term. Markets are also watching remarks from Federal Reserve Chair Waller for clues on the direction of monetary policy. At the same time, the U.S. Treasury’s expanded purchases of long-dated bonds have added to concerns about dollar weakness. Gold gained more than 5% last week. Separately, Qatar’s prime minister is set to visit Tehran to restart diplomatic mediation.
Gold prices edged higher on Thursday as the U.S. dollar weakened and concerns over the U.S. budget deficit persisted.
Kelvin Wong, an analyst at OANDA, said those factors are supporting gold in the medium term. Markets are watching remarks from Federal Reserve Chair Waller for signals on the direction of monetary policy.
The U.S. Treasury expanded its purchases of long-dated bonds, adding to concerns about dollar weakness. Gold rose more than 5% last week. Separately, Qatar’s prime minister will visit Tehran to restart diplomatic mediation.
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