Investors Move Away From Gold, Into Dollar – 28 May, 2019

A firmer dollar brought down gold prices from a one week peak, with investors putting their bets towards the currency in a time of U.S.- China tensions and uncertainty. Spot gold dipped by 0.5% to $1,278.12 per ounce, hitting a high since May 17 the previous session at $1,287.32 per ounce. U.S. gold futures were down 0.5% to $1,277.10 per ounce. During economic uncertainty, the safe-haven dollar tends to be the preferred benefactor for investors. Against a basket of currencies, the dollar was 0.3% stronger.