Gold held the biggest daily increase since June and traded near the highest in almost three weeks as the dollar weakened amid diminishing bets on an interest-rate rise in September.
Bullion for immediate delivery traded at US$1,349.16 an ounce at 9:37am in Singapore, after surging 1.7 per cent on Tuesday, the most since the results of the Brexit vote came out on June 24, according to Bloomberg generic pricing.
The metal resumed its rally this year on reduced chances of the Federal Reserve tightening monetary policy this month after the Institute for Supply Management's index of US non-manufacturing industries slumped to its lowest level since Feb 2010.
A gauge of the greenback traded at the lowest level this month. The Federal Open Market Committee meets on Sept 20-21.Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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