Gold retained gains from a five-day rally on Tuesday, trading near a three-month high as a recent string of sluggish U.S. economic data stoked speculation the Federal Reserve would not raise rates any time soon.
Spot gold had dipped slightly to $1,223.39 an ounce by 0030 GMT, but held near a three-month high of $1,232.20 reached in the previous session.
The metal had gained for five straight days to Monday after recent data on U.S. jobs market, retail sales and consumer sentiment pointed to weakness in the economy.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015