Gold breaks three-day loss streak as Dollar falls from highs
Gold broke its three-day loss streak, seeing a modest half-percent gain as the Dollar lost steam from its record highs on Thursday.
The break in the safe-haven asset comes after a precipitous drop of more than $90, or nearly 5%, from Friday’s session highs of above $1,968.
However, investors question whether the yellow metal’s turnaround was merely a pause, or the start of a slow, steady reversal.
Futures and bullion inched slightly into positive territory after the settlement on Thursday indicated that all might not be well yet with gold.
Spot gold gained 0.3% ($5.40) to $1,868.92 per ounce at 2:41 PM ET (18:41 GMT), after it fell from a session high of $1,877.11. The bullion indicator had seen a two-month low of $1,856 on Wednesday’s session.
U.S. gold futures for December delivery gained 0.5% ($8.50), exchanging hands at $1,876.90 per ounce after it reached an intraday peak of $1,880.85.
Meanwhile, the Dollar Index saw a 0.1% slump, falling to 94.433 from a two-month perch of 94.653.