Gold rises to two-week high as dollar falls

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Tue, 01 Sep 2020 - 01:56 GMT

FILE PHOTO: An employee sorts gold bars in the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, December 15, 2017. REUTERS/Leonhard Foeger

FILE PHOTO: An employee sorts gold bars in the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria, December 15, 2017. REUTERS/Leonhard Foeger

WASHINGTON - 1 September 2020: Gold prices rose on Tuesday to their highest level in nearly two weeks, as the dollar slipped to two-year lows on bets that US interest rates would stay lower for longer under the Federal Reserve's new policy framework.


Spot gold went up 0.8%, recording $1,985.64 per ounce after hitting its highest since August 19 at $1,989.42 earlier in the session.


The dollar index dropped to a more than two-year low against its rivals. The dollar declined by 0.4% to 91.791 points.

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