Gold Prices Slip Despite Weaker Dollar

Investing.com – Gold prices slipped in Asia on Thursday although the dollar dropped to below the 94 level.

for August delivery on the Comex division of the New York Mercantile Exchange were down $0.20 or 0.01%, to $1,301.20 a troy ounce by 12:44AM ET (04:44 GMT).

Geopolitical tensions in East Asia continued to ease. Japanese Prime Minister Shinzo Abe is meeting U.S. President Donald Trump on Thursday and Friday at the White House ahead of the upcoming North Korea Summit scheduled next week in Singapore.

Markets also look ahead to the Group of Seven meeting, which would be held on June 8 and 9 in Quebec, Canada. Investors also eyed this month’s meetings of both the Federal Reserve and the ECB for more hints on monetary policy. 

Meanwhile, the dollar slid in morning trade in Asia Thursday, staying on the bearish track from the previous day. The lost 0.13% to 93.48, heading further away from the 94 level.

In other precious metal trade, shed 0.05% to $16.685 a troy ounce, lost 0.03% to $906.10 an ounce, while gained 0.46% to $3.283.

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