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spot gold price

Gold Gains on Softer Dollar as Fed Signals Slowdown in Rate Hikes

spot gold price
Gold prices rose to a near one-week high on Thursday on a weaker dollar.

KONTAN.CO.ID - LONDON. Gold prices rose to a near one-week high on Thursday on a weaker dollar, after minutes from the U.S. Federal Reserve's November meeting signalled it may soon slow the pace of interest rate hikes.

Spot gold was up 0.4% to $1,756.08 per ounce at 1422 GMT. U.S. gold futures advanced 0.6% to $1,756.50.

The minutes of the Fed's Nov. 1-2 policy meeting showed a "substantial majority" of Fed policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate hikes.

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