Gold continues record run above $1,100<\/p>\n
Gold rallied to a record high Monday as the dollar weakened against rival currencies.<\/p>\n
after climbing to an all-time trading high of $1,111.70 earlier in the session, December gold rose $5.70 to settle at a record $1,101.40 an ounce,<\/p>\n
Gold gained 5%\u00a0 on speculation that central banks around the world will begin buying more of the precious metal as an alternative to the dollar, which is the traditional global reserve currency.<\/p>\n
The precious metal pushes further above $1,100 an ounce, after a 5% gain\u00a0 as the dollar weakens broadly.<\/p>\n
The dollar fell on Monday after a meeting of finance ministers from the Group of 20 major economies over the weekend ended without a definitive plan to tackle rebalancing global money flows.<\/p>\n
The dollar index, which gauges the greenback’s value against a basket of currencies, slid 0.9% to a two-week low of 75. So far this year, the dollar has lost more than 7% against its main rivals.<\/p>\n
Gold has gained more than 23% this year, and many traders expect the rally to continue into next year given the outlook for continued weakness in the dollar.<\/p>\n
A softer greenback makes commodities that are priced in dollars, such as gold, more appealing for investors using other currencies. As a result, gold often rises when the dollar weakens<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold continues record run above $1,100 Gold rallied to a record high Monday as the dollar weakened against rival currencies. after climbing to an all-time trading high of $1,111.70 earlier in the session, December gold rose $5.70 to settle at a record $1,101.40 an ounce, Gold gained 5%\u00a0 on speculation that central banks around the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1],"tags":[2479,2481,2476,2477,2478,2474,2480,2475,2484,2482,2483],"class_list":{"0":"post-763","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-general","7":"tag-14k-gold","8":"tag-24k-gold","9":"tag-current-gold-rate","10":"tag-dollar","11":"tag-dollar-rate","12":"tag-gold","13":"tag-gold-market","14":"tag-gold-rate","15":"tag-indian-gold-market","16":"tag-usa-gold","17":"tag-usa-gold-market","18":"entry"},"_links":{"self":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/comments?post=763"}],"version-history":[{"count":0,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/763\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/media?parent=763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/categories?post=763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/tags?post=763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}