Up She goes! COMMODITIES: Gold Rises Back Above US$1,700 on Weaker Dollar Even as Stocks Rise
08:46 AM EDT, 04/22/2020 (MT Newswires) -- Gold pushed back above the US$1.700 mark early on Wednesday as the U.S. dollar fell, though investors were adding risk as equities rise.
Gold for June delivery was last seen up US$23.20 to US$1,711.00 per ounce in Comex electronic trade.
Stock markets are on the rise, with most European markets pushing higher and futures pointing to a higher open in the United States.
However the U.S. dollar weakened, making gold more affordable for international investors searching for a safe haven. The ICE dollar index was last seen down 0.22 to 100.04 points.