Gold Pushes to Fresh 3 Month Highs Despite Dollar Strength COMMODITIES: Gold Pushes to Fresh Three-Month Highs Despite Dollar Strength
08:39 AM EST, 01/02/2020 (MT Newswires) -- Gold rose to the highest in more than three-months on Thursday despite a higher U.S. dollar,
Gold for February delivery was last seen up US$3.00 to US$1,526.10 per ounce in Comex electronic trade, the highest since September 24.
The gains came despite a higher U.S. dollar, as investors anticipate greater demand for the metal from China as the country's economy recovers from its trade war with the United States. The two countries are slated to sign a trade deal ending the battle on Jan.15.
The ICE dollar index was last seen up 0.28 points to 96.67. A higher dollar makes gold more expensive for international buyers, cutting into demand.