Gold climbs to new high at US$1,868

Business | 18 May 2021 12:14 pm

Gold prices extended gains on Tuesday, hitting their highest level in more than three-and-a-half months, as a weaker U.S. dollar and growing inflationary pressure bolstered the metal's appeal as an inflation hedge, Reuters reports.

Spot gold was up by 0.1 percent at US$1,868.27 per ounce by 0314

GMT, after hitting its highest since January 29 at US$1,873.41 earlier in the day. U.S. gold futures were steady at US$1,868.30.

 



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