Gold gains as softer US dollar

Gold prices rose on Wednesday, hovering near a seven-week high hit earlier this week, as a softer dollar and a retreat in U.S. Treasury yields lifted demand for the safe-haven metal.

Spot gold was up 0.5% to $1,786.80 per ounce at 0657 GMT, after hitting $1,789.77 on Monday, its highest since Feb. 25. U.S. gold futures gained 0.5% to $1,786.90 per ounce.

“The U.S. dollar had edged lower this morning, supporting prices, with gold’s upward momentum from overnight continuing in Asia,” OANDA senior market analyst Jeffrey Halley said.

Capital Limited (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets.

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