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Gold up 1.5 pct on softer dollar after Fed
Posted on Jun 26 2008 6:31 AM by
adeal
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Gold rose 1.5 percent in Europe on Thursday, supported by a softer dollar after the U.S. Federal Reserve's decision to leave interest rates unchanged, and as traders scaled back expectations for further rate rises.
Gold rose to $893.90/894.90 an ounce at 0959 GMT from $879.60/880.60 an ounce late in New York on Wednesday, when it dropped to its lowest level in a week -- $873.50 -- due to weaker oil prices.
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