September 30, 2020
Business News

Gold drops 1% as dollar rises after Fed’s upbeat economic view

By Brijesh Patel

(Reuters) – Gold prices fell more than 1% on Thursday as the dollar climbed after the U.S. Federal Reserve painted a favourable economic recovery picture but stopped short of offering concrete signals on further stimulus.

Spot gold was down 1.1% to $1,938.12 per ounce by 0321 GMT. U.S. gold futures slipped 1% to $1,951.30.

“Investors across the Asia-Pacific are perhaps not inspired by last night’s FOMC (Federal Open Market Committee) meeting, in which …

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