Gold dips as US stocks rise

US stocks reached new highs midweek, and the dollar rose, putting pressure on gold.
Gold dips as US stocks rise Gold dips as US stocks rise Gold dips as US stocks rise Gold dips as US stocks rise Gold dips as US stocks rise

Staff Reporter

Comex gold futures had traded as high as $1980.40 an ounce on Wednesday, but fell as low as $1938.90/oz.
 
"Risk appetite was strong, with US and European equities advancing, with many near record highs as traders bet that a flood of liquidity unleashed by central banks will benefit companies," ANZ Research said.
 
Base metals were mixed, but nickel extended its 10-month high with a 1.1% rise to $15,675.75 per tonne. Copper extended its two-year high by $1.
 

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