Gold prices fall as Dollar slowly recovers strength

20.08.2020 - Korneychuk Evgeniya
Gold prices fall as Dollar slowly recovers strength

Gold prices fell earlier on Thursday in Asia, retreating below the $2,000 mark once more as the U.S. Dollar slowly recovered from its record slump.

Gold futures fell by 0.54%, trading at $1,959.70 per ounce at 12:30 AM ET (05:30 AM GMT).

Investors retreated from the safe-haven asset after the Greenback gained slightly on Thursday’s session. Gold prices were also affected by a rise in U.S. Treasury yields after the U.S. Fed revealed its July meeting minutes, which suggested the implementation of yield curve controls in a bid to lower loan costs.

However, many believe that mounting U.S.-China tensions could bring the shine back on gold.

Meanwhile, investors are eyeing the Jackson Hole symposium, which would take place from August 27-28 as well as the Fed’s next policy meeting scheduled in September for new signals.

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