Dollar Recovery Hurts Gold – 10 September 2020

Doubts of a fast economic recovery has kept gold on track for a weekly gain, however prices of the precious metal fell against the dollar as the currency gained. Spot gold dipped 0.3% to $1,947.41 per ounce after previously hitting a one week high of $1,965.94 at the beginning of the month. So far, gold has regained 0.8% for the week. U.S. gold futures dropped 0.5% to $1,955.30 as the dollar remained firm against major rivals.