Gold hits over 18-month low as dollar flares on Turkey woes

Thursday, 16 August 2018 00:00 - - {{hitsCtrl.values.hits}}

BENGALURU (Reuters): Gold prices fell to a more than 18-month low on Wednesday as the dollar hit an over 13-month peak on demand emerging from concerns about Turkey’s financial turmoil. The greenback, in which gold is priced, has been bolstered by a fall in the euro, which has been dogged by concerns over the European banks’ exposure to Turkey.

The index tracking the dollar against a group of six major currencies hit the highest since June 27, 2017 at 96.874.

Spot gold was down 0.45% at $1,189 an ounce at 0709 GMT, after hitting its lowest since late January 2017 at $1,185.92.

US gold futures were down 0.47% at $1,195 an ounce.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.