Gold edges up as greenback retreats

  • Business Premium
  • Friday, 07 Aug 2015

NEW YORK/LONDON: Gold edged higher on Thursday, supported by the retreating US dollar and a tumble in global equities as traders awaited US employment data seen as key to determining when the Federal Reserve may raise interest hikes.

Spot gold was up 0.5% at $1,090.11 an ounce by 1759 GMT (1:59 p.m. EST). The metal breached important technical support at US$1,100 after a deep rout in late July pushed it as low as US$1,077, its weakest since February 2010.

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