Gold slips from two-week high on stronger dollar

Gold prices fell on Thursday after reaching a two-week high due to a stronger dollar, but concerns about the US government’s growing debt and fiscal situation supported prices above $3,300.

As of 12:10 PM GMT, spot gold dropped 0.24 per cent to $3,307.37 per ounce, higher than its previous close of $3,315.32. Meanwhile, US gold futures fell 0.21 per cent to $3,306.54 per ounce, down from Wednesday’s closing price of $3,313.5.

Attribution: Amwal Al Ghad English, Reuters

Subediting: Y.Yasser