⁍ Spot gold was up 0.1% at $1,971.07 per ounce by0032 GMT.
⁍ It hit its highest since Aug. 19 at $1,991.91 on Tuesday.
⁍ U.S. gold futures were steady at $1,978.90 per ounce.
– The dollar fell to a more than two-year low against a basket of major world currencies on Wednesday, after Federal Reserve chief Lael Brainard said the US central bank would need to keep interest rates low for longer to achieve its goal of higher job growth. The dollar index, which measures the greenback’s value against a variety of other currencies, was down 0.4%, after hitting a more than two-year low on Tuesday, when Brainard said the Fed would need to roll out more stimulus to meet its promise of stronger job growth and higher inflation, the Wall Street Journal reports. Meanwhile, gold was up 0.1% at $1,971.07 per ounce, after hitting its highest since Aug. 19 at $1,991.91 on Tuesday, Reuters reports. Silver was up 0.3% at $28.25 per ounce, platinum rose 0.3% to $943.63, and palladium climbed 0.2% to $2,276.83.
Source: https://www.reuters.com/article/global-precious/precious-gold-ticks-up-on-weaker-dollar-solid-us-data-caps-gains-idUSL4N2FZ05B