Economic news

Gold heads to multi-month peaks as dollar wobbles

Gold futures were set to extend their recent rally on Tuesday even with tension on stock markets eased.

Photo: Pixabay

Gold futures for December delivery were up 0.2 percent at $1,233 an ounce, not far from their top since July 26. December silver futures climbed 0.5 percent to $14.795 an ounce.

The ICE U.S. Dollar Index DXY slipped 0.1 percent to 94.96.

Recent greenback weakness has hurt its stronger trend in the year so far, a surge triggered by the Federal Reserve's rates hikes and leaving the index up 3.1 percent so far this year.

World stocks were mostly higher in morning deals a day after a tech-driven drop. Stocks have been affected recently by rising worries over stronger Treasury rates, boosting interest in the yellow metal.


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