"Gold has held above the $760 mark as the dollar remains weak and oil prices surge back close to record levels," David Thurtell, metals analyst at BNP Paribas, said.
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Gold Futures Near 28 year high
Gold futures continued to rise on Thursday to trade near a 28 year
Gold futures continued to rise on Thursday to trade near a 28-year high amid strong oil prices and a weaker dollar.
But traders remained cautious ahead of next week's U.S. Federal Reserve meeting as experts believe that a slowing U.S. economy would prompt the central bank to cut interest rates -- a negative factor for the dollar and often good for gold prices.
"Gold has held above the $760 mark as the dollar remains weak and oil prices surge back close to record levels," David Thurtell, metals analyst at BNP Paribas, said.
Spot gold was quoted at $765.00/765.80 an ounce at 0954 GMT, compared with $761.20/762.00 late in New York on Wednesday and last week's 28-year high of $770.
"Gold has held above the $760 mark as the dollar remains weak and oil prices surge back close to record levels," David Thurtell, metals analyst at BNP Paribas, said.
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