Gold set for monthly gain on economic woes, softer dollar

Gold set for monthly gain on economic woes, softer dollar
# 28 April 2023 09:50 (UTC +04:00)

Gold prices were poised for a second monthly gain on Friday as lingering economic concerns and a weaker dollar drove investors to the safe-haven asset, with markets now focused on the Federal Reserve's meeting due next month, APA-Economics reports citing Reuters.

Spot gold held its ground at $1,989.50 per ounce by 0310 GMT, and was headed for a 1.1% monthly gain.

U.S. gold futures were flat at $1,999.00.

Rival dollar , on the other hand, was set for a monthly decline, making gold a more attractive bet for other currencies holders.

Among other precious metals, spot platinum rose 0.1% to $1,078.21, palladium added 0.3% to $1,499.96.

Silver was flat at $24.95.

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