· Trump’s reiteration on Monday of displeasure with rising interest rates has weighed on the dollar, ahead of the release of the Fed’s minutes later on Wednesday and its annual economic symposium at Jackson Hole, Wyoming on Friday.
“Trump’s comments have certainly put a dampener on the dollar,” said Sydney-based ANZ analyst Daniel Hynes. “This especially ahead of the Jackson Hole symposium is an issue, which the investors are clearly focussed on.”
· Spot gold was largely unchanged at $1,195.68 an ounce at 0227 GMT, after touching $1,197.66, its highest level since Aug. 14. U.S. gold futures rose 0.2 percent to $1,202 an ounce.
· The precious metal has come under pressure this year, sliding more than 12 percent since hitting a high of $1,365.23 in April amid U.S. interest rate hikes and a soaring dollar.
· The dollar index, which measures the greenback against a basket of currencies, fell about 0.1 percent on Wednesday after touching its lowest since Aug. 9 at 95.08in the previous session.
· Spot silver was up 0.3 percent at $14.79 an ounce.
Platinum rose 0.3 percent to $795.70, after touching a one-week high of $803.10. Palladium fell 0.6 percent to $911.
Reference: Reuters
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