South Africa: Weak Dollar Helps Gold Price, But Revival May Be Shortlived

Johannesburg — A WEAKER dollar helped gold gain traction yesterday after its recent sharp plunge as investors sought direction from dollar movements and indications of inflation or deflation in the US and as jewellery buyers remained on the sidelines.

The spot price of gold dropped to a low of 925/oz on Wednesday, having touched 959/oz on Monday after two weeks of steady gains. By late yesterday it had added 1% to 936/oz.

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