Gold drifts higher as dollar eases over Catalan relief

Reuters/Eric Onstad/10-11-17

Gold edged higher on Wednesday after Catalonia’s leader baulked at making a formal declaration of independence from Spain, sending the euro higher and the dollar down.

The dollar index fell to the lowest in over a week, making dollar-priced gold cheaper for buyers using other currencies.

“These concerns about the ramifications of the Catalan independence referendum are fading, giving some support to the euro and weakening the dollar,” said Jens Pedersen, senior analyst at Danske Bank in Copenhagen.

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