Gold Prices Rose on Tuesday in The Form of a Weaker US Dollar
- Trade Magnates Team
- Nov 14, 2017
- 1 min read
Trade Magnates - Gold prices moved higher on Tuesday in the form of a weaker US dollar. NYMEX gold futures for December rose to 1282.90$ a troy ounce.
Precious metal prices have been increasing since the start of this week trading sessions amid increasing demands on the safe haven metal as a result of the political uncertainty in the UK over its Prime Minister, Mrs. May’s ability to deliver a good Brexit deal to the country as well as US tax reform uncertainty.
Key drivers for gold were a well contained real interest rates and the Fed funds rate. In addition to a data showing that traders increased their bullish bets on the precious metal for the second week in a row.