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Pound Canadian Dollar (GBP/CAD) Exchange Rate Edges Higher as UK Economy Bounces Back

Pound Canadian Dollar (GBP/CAD) Exchange Rate Edges Higher as UK Economy Bounces Back
currencynews.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from currencynews.co.uk Daily Mail and Mail on Sunday newspapers.

Gold at near three-week peak as dollar weakens; Fed minutes in focus

By Brijesh Patel (Reuters) - Gold prices on Tuesday hit their highest in nearly three weeks, as a pullback in the dollar made bullion less expensive for holders of other currencies, while investors awaited minutes from the U.S. Federal Reserve for clarity on monetary policy. Spot gold was up 0.4% at $1,798.46 per ounce, as of 0315 GMT, its highest since June 17. U.S. gold futures rose 0.8% to $1,798.10 per ounce. It s mainly a weakening U.S. dollar that is boosting gold prices. Gold was sold down heavily after June FOMC meeting and now that expectations have been priced in, buyers are back to the market, said Margaret Yang, a strategist at DailyFX.

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